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
Amgen reported an increase in second-quarter profit, driven by sales of arthritis drug Enbrel and osteoporosis treatments Xgeva and Prolia, and improved margins. Both earnings and sales topped Wall Street estimates. Electronic Arts Inc. (EA) on Thursday reported an increase in profit for the first quarter, reflecting continued strong digital revenues, with both earnings and revenues topping Wall Street estimates. However, shares of the company fell over 4 percent, after having detailed a weak outlook. Redwood... LinkedIn Corp., the world's largest online professional network, said Thursday after the markets closed that its second quarter loss widened sharply from last year, as higher costs and expenses more than offset a 33% increase in revenue. However, the company's quarterly earnings per share, excluding items, came in well above analysts' expectations as did its quarterly revenue.
comments powered by Disqus
RELATED NEWS
Trade MYGN now with 
Follow RTT