High court ruling on gene patents lifts Myriad

Shares of diagnostic test maker Myriad Genetics Inc. are jumping Thursday after the Supreme Court issued a mixed ruling in a case involving the company's patents on genes at the center of its tests for increased risk of breast and ovarian cancer.

Myriad, based in Salt Lake City, sells a popular test for a gene linked to —the only one available because of its patents.

The high court ruled that genes naturally found in the body cannot be patented, but that synthetically created genetic material can be patented. That leaves an opening for Myriad to continue making money, Justice Clarence Thomas wrote in the court's majority opinion.

Myriad shares were up 10.3 percent, or $3.48, at to $37.40. They had earlier set a 52-week high at $38.27.


Explore further

US court says human genes cannot be patented (Update 4)

© 2013 The Associated Press. All rights reserved.

Citation: High court ruling on gene patents lifts Myriad (2013, June 13) retrieved 16 June 2021 from https://phys.org/news/2013-06-high-court-gene-patents-myriad.html
This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only.
0 shares

Feedback to editors

User comments