logo
Share SHARE
FONT-SIZE Plus   Neg

Myriad Genetics Says Supreme Court Of United States Remands Gene Patenting Case

Myriad Genetics Inc. (MYGN) announced that the Supreme Court of the United States remanded the case of The Association for Molecular Pathology, et al., v. Myriad Genetics Inc., et al to the Federal Circuit Court of Appeals.

The company said that as a result of this decision by the Supreme Court, the United States Court of Appeals for the Federal Circuit will reconsider their decision dated July 29, 2011, which upheld Myriad's gene patents.

In that decision, the Federal Circuit declared that the composition of matter claims covering isolated DNA of the BRCA 1 and BRCA 2 genes are patent-eligible under Section 101 of the United States Patent Act.

"While, this case should not have any direct impact to Myriad and its operations because of our extensive patent estate, it has great importance to the medical, pharmaceutical, biotechnology and other commercial industries, as well as the hundreds of millions of people whose lives are bettered by the products these industries develop based on the promise of strong patent protection," said Peter Meldrum, President and CEO of Myriad Genetics.

"Thus, we are prepared to vigorously defend the patent claims granted to Myriad by the U.S. Patent and Trademark Office and believe that we will be successful," said Peter Meldrum.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Leaders of the Senate Health Committee revealed Tuesday they have reached an agreement on legislation to provide short-term stability to Obamacare. Committee Chairman Lamar Alexander, R-Tenn., and ranking member Patty Murray, D-Wash., announced the bipartisan agreement. Activist investor Rudolf Bohli is reportedly targeting Switzerland's second largest bank Credit Suisse. Bloomberg reported that Bohli has 0.2 percent stake in Credit Suisse that comes around 100 million francs or around $102 million. Australia's flag carrier Qantas Airways Ltd. on Tuesday took delivery of its first Boeing 787-9 Dreamliner aircraft, noting that the game-changing aircraft will open up new routes and new levels of comfort for travelers. The new aircraft will enable Qantas to operate Australia's first regular non-stop flights to Europe.
comments powered by Disqus
Follow RTT