For almost a generation, Myriad Genetics Inc. benefited from being the only company to test for BRCA1 and 2 gene mutations, whose presence correlates with the risk of breast and ovarian cancer. The US Supreme Court dissolved that rare monopoly in 2013, when it invalidated some of the company’s crucial patents. Whether in anticipation of such a ruling or not, by then, Myriad had begun developing a more complex predictive cancer test panel that looks at a much greater number of genes. It also had jettisoned a fruitless drug discovery business in 2009, which had been a drain on its cash. Perceived as conservative and reactionary – and mean-spirited in its longstanding assertions of exclusivity to BRCA genes and the data on hereditary breast and ovarian cancer its BRACAnalysis test generated – the company had plans to evolve.
Since 2009, Myriad has tested the acquisition waters, repeatedly repurchased stock, and until recently, watched its revenues climb steadily while pouring a good amount of it into R&D
