Assurex Health, a wholly-owned subsidiary of Myriad Genetics, Inc.
(NASDAQ:MYGN), today announced that new data on the use of the
GeneSight
® Psychotropic test to deliver
medication cost savings for mental health disorders was published
in the journal Clinical Therapeutics.[1] GeneSight
Psychotropic is a precision medicine genetic test that helps guide
medication selection in patients with major depressive disorder
(MDD) and is the foundation of the Company’s industry-leading
portfolio of tests for neuroscience disorders.
The study, entitled: "Economic utility: Combinatorial
Pharmacogenomics and Medication Cost Savings for Mental Healthcare
in a Primary Care Setting" is a subanalysis from a previous
prospective study analyzing cost savings for patients receiving
combinatorial pharmacogenomic testing.[2] The current study
compared savings among various types of health care providers
(HCPs) and analysed the cost of treatment decisions that were
congruent with GeneSight test results (i.e., medication decisions
in concordance with the patients’ test results) with those that
were incongruent. Using pharmacy claims data from 2,168
patients with MDD, the new analysis compared medication costs six
months prior to GeneSight testing and for one year
post-testing.
The analysis measured both treatment congruence and cost savings
per patient based on the type of healthcare provider administering
care. The findings showed that primary care providers (PCPs)
treat the majority of mental health patients receiving psychotropic
medication prescriptions, including treatment resistant
patients. In fact, patients treated by PCPs had tried a
median of five medications, similar to psychiatrists whose patients
had tried six medications. The data also demonstrated that PCPs who
treated patients congruently with the GeneSight test saved payers
and patients an average of $3,998 compared to incongruent decisions
(p<0.001). Additionally, psychiatrists who treated
patients congruently with the GeneSight test saved an average of
$1,308.
_______________
[1] Brown L., Lorenz R., Li J., et al, Economic utility:
Combinatorial pharmacogenomics and medication cost savings for
mental healthcare in a primary care setting. Clin Ther. 2017;
Accessed online at:
http://dx.doi.org/10.1016/j.clinthera.2017.01.022.
[2] J.G. Winner, J.M. Carhart, C.A. Altar, et al. Combinatorial
pharmacogenomic guidance for psychiatric medications reduces
overall pharmacy costs in a 1 year prospective evaluation. Curr Med
Res Opin, 31 (2015), pp. 1633–1643.
"In the treatment of major depression, clinicians and payers are
looking for sensible options to improve patient care, while
lowering overall costs to healthcare systems," said Bryan M.
Dechairo, Ph.D., chief medical and science officer, Assurex Health.
"Prior studies demonstrated that the GeneSight test can be used to
guide patient treatment decisions. Now, we know that GeneSight can
lower costs across healthcare provider types, but was especially
effective in generating cost savings among primary care physicians,
which is important because they treat the majority of patients with
mental illness.”
Follow Myriad on Twitter via @MyriadGenetics to stay informed
about news and updates from the Company.
About The GeneSight® TestThe GeneSight test
helps healthcare providers make better treatment decisions based on
a person’s genetic makeup. GeneSight testing is based on advanced
CPGx® technology, a patented approach that analyzes variations and
combinations of a person’s genes along with FDA-approved
medications for behavioral health conditions and chronic
pain. Numerous peer-reviewed, published studies have proven
its clinical benefits and substantial healthcare cost savings. More
than 18,000 healthcare professionals have used GeneSight to improve
healthcare for more than 450,000 patients. Learn more at
www.GeneSight.com.
About Assurex HealthAssurex Health, a
wholly-owned subsidiary of Myriad Genetics, Inc., is an
informatics-based, personalized medicine company providing
treatment decision support to healthcare providers for behavioral
health and chronic pain conditions. Assurex Health is the only
company in the category with multiple peer-reviewed, published
studies that demonstrate the clinical validity and clinical utility
of the GeneSight test, including its substantial healthcare cost
savings benefit. The Company has grown every quarter and has
expanded internationally through a partnership with Canada’s Centre
for Addiction and Mental Health (CAMH). For more on how Assurex
Health is helping people gain mental wellness, visit
www.AssurexHealth.com.
About Myriad GeneticsMyriad Genetics Inc., is a
leading personalized medicine company dedicated to being a trusted
advisor transforming patient lives worldwide with pioneering
molecular diagnostics. Myriad discovers and commercializes
molecular diagnostic tests that: determine the risk of developing
disease, accurately diagnose disease, assess the risk of disease
progression, and guide treatment decisions across six major medical
specialties where molecular diagnostics can significantly improve
patient care and lower healthcare costs. Myriad is focused on
three strategic imperatives: transitioning and expanding its
hereditary cancer testing markets, diversifying its product
portfolio through the introduction of new products and increasing
the revenue contribution from international markets. For more
information on how Myriad is making a difference, please visit the
Company's website: www.myriad.com.
Myriad, the Myriad logo, BART, BRACAnalysis, Colaris, Colaris
AP, myPath, myRisk, Myriad myRisk, myRisk Hereditary Cancer,
myChoice, myPlan, BRACAnalysis CDx, Tumor BRACAnalysis CDx,
myChoice HRD, EndoPredict, Vectra, GeneSight and Prolaris are
trademarks or registered trademarks of Myriad Genetics, Inc. or its
wholly owned subsidiaries in the United States and foreign
countries. MYGN-F, MYGN-G.
Safe Harbor StatementThis press
release contains “forward-looking statements” within the meaning of
the Private Securities Litigation Reform Act of 1995, including
statements relating to the ability of the GeneSight Psychotropic
test to drive medication cost savings for mental health disorders;
the ability of the GeneSight test to guide medication selection in
patients with major depressive disorder (MDD); GeneSight test being
the foundation of the Company’s industry-leading portfolio of tests
for neuroscience disorders; and the Company’s strategic directives
under the caption “About Myriad Genetics.” These
“forward-looking statements” are based on management’s current
expectations of future events and are subject to a number of risks
and uncertainties that could cause actual results to differ
materially and adversely from those described or implied in the
forward-looking statements. These risks include, but are not
limited to: the risk that sales and profit margins of our existing
molecular diagnostic tests and pharmaceutical and clinical services
may decline or will not continue to increase at historical rates;
risks related to our ability to transition from our existing
product portfolio to our new tests; risks related to changes in the
governmental or private insurers’ reimbursement levels for our
tests or our ability to obtain reimbursement for our new tests at
comparable levels to our existing tests; risks related to increased
competition and the development of new competing tests and
services; the risk that we may be unable to develop or achieve
commercial success for additional molecular diagnostic tests and
pharmaceutical and clinical services in a timely manner, or at all;
the risk that we may not successfully develop new markets for our
molecular diagnostic tests and pharmaceutical and clinical
services, including our ability to successfully generate revenue
outside the United States; the risk that licenses to the technology
underlying our molecular diagnostic tests and pharmaceutical and
clinical services tests and any future tests are terminated or
cannot be maintained on satisfactory terms; risks related to delays
or other problems with operating our laboratory testing facilities;
risks related to public concern over our genetic testing in general
or our tests in particular; risks related to regulatory
requirements or enforcement in the United States and foreign
countries and changes in the structure of the healthcare system or
healthcare payment systems; risks related to our ability to obtain
new corporate collaborations or licenses and acquire new
technologies or businesses on satisfactory terms, if at all; risks
related to our ability to successfully integrate and derive
benefits from any technologies or businesses that we license or
acquire, including but not limited to our acquisition of Assurex,
Sividon and the Clinic; risks related to our projections about the
potential market opportunity for our products; the risk that we or
our licensors may be unable to protect or that third parties will
infringe the proprietary technologies underlying our tests; the
risk of patent-infringement claims or challenges to the validity of
our patents; risks related to changes in intellectual property laws
covering our molecular diagnostic tests and pharmaceutical and
clinical services and patents or enforcement in the United States
and foreign countries, such as the Supreme Court decision in the
lawsuit brought against us by the Association for Molecular
Pathology et al; risks of new, changing and competitive
technologies and regulations in the United States and
internationally; the risk that we may be unable to comply with
financial operating covenants under our credit or lending
agreements; the risk that we will be unable to pay, when due,
amounts due under our credit or lending agreements; and other
factors discussed under the heading “Risk Factors” contained in
Item 1A of our Annual report on Form 10-K for the fiscal year ended
June 30, 2016, which has been filed with the Securities and
Exchange Commission, as well as any updates to those risk factors
filed from time to time in our Quarterly Reports on Form 10-Q or
Current Reports on Form 8-K.
Media Contact:
Ron Rogers
(908) 285-0248
rrogers@myriad.com
Investor Contact:
Scott Gleason
(801) 584-1143
sgleason@myriad.com
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