Myriad Announces Coverage Decision by Kroger® Prescription Plans for GeneSight®
May 01 2019 - 4:05PM
Myriad Genetics, Inc. (NASDAQ: MYGN), a worldwide leader in
personalized medicine, today announced that Kroger Prescription
Plans, will provide GeneSight® as an benefit option for Kroger
Prescription Plan employer group clients. Additionally,
pharmacists at more than 2,300 Kroger stores will provide
counselling about GeneSight to eligible employer group members and
facilitate testing with their prescribing healthcare
professionals.
“Major depressive disorder is a common, disabling and costly
mental illness. We are excited to support new interventions
such as genetic testing that are aimed at helping people find the
right medication,” said Rich Adams, senior vice president at Kroger
Prescription Plans. “We believe the GeneSight test provides
valuable genetic information that potentially can lead to
transformative care for our members with depression and help them
get well sooner.”
“We are excited to expand our relationship with Kroger
Prescription Plans,” said Chip Parkinson, executive vice president
of Payer Markets at Myriad Genetics. “Increasingly, employers
are at the forefront of improving employee wellness, particularly
when it comes to mental health illnesses, and reducing their
healthcare costs.”
In July 2018, Myriad announced that Kroger Prescription Plans
will provide Vectra® as a benefit option for Kroger Prescription
Plan employer group clients. Vectra is the only validated
multi-biomarker molecular blood test that simultaneously measures
12 key biomarkers to provide an objective and personalized measure
of rheumatoid arthritis disease activity.
About GeneSight®GeneSight is a
laboratory-developed pharmacogenomic test that uses cutting-edge
technology to measure and analyze clinically important genomic
variants in the treatment of psychiatric disorders. The results of
the GeneSight report can help a clinician understand the way a
patient's unique genomic makeup may affect certain psychiatric
drugs. The analysis is based on pharmacogenomics, the study of
genomic factors that influence an individual's response to drug
treatments, manufacturers' FDA approved drug labels, peer reviewed
scientific and clinical publications, and proven drug pharmacology.
Quick turnaround time, combined with a customized report of
the patient's genomic makeup, clinical experience, and other
factors can provide information to help a physician make
personalized drug treatment choices for each patient. For more
information about GeneSight, please
visit www.genesight.com.
About Kroger Prescription Plans Kroger
Prescription Plans is dedicated to providing pharmacy benefit
management services and innovative clinical programs that focus on
engagement, choice, and cost savings. Built on personalized
care solutions that simplify health, wellness and nutrition, Kroger
Prescription Plans is the catalyst to combining a full suite of
Kroger entities to improve health and deliver savings. The
company provides pharmacy benefit management services to a wide
range of employers across 32 states, including The Kroger Co., the
4th-largest employer in the United States. Discover more at
www.kpp-rx.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
five strategic imperatives: build upon a solid hereditary
cancer foundation, growing new product volume, expanding
reimbursement coverage for new products, increasing RNA kit revenue
internationally and improving profitability with Elevate
2020. 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, riskScore, Prolaris,
ForeSight and Prequel 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 Kroger Prescription Plans providing the
company’s GeneSight® test as an benefit option for Kroger
Prescription Plan employer group clients; 2,300 Kroger stores
providing counselling about GeneSight to eligible employer group
members and facilitate testing with their prescribing healthcare
professionals; the ability of the GeneSight test for aiding in the
selection of medicines for patients with major depressive disorder,
to improve patient outcomes or lower healthcare costs; the
company and Kroger Prescription Plans implementing a similar
program for Vectra, 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 set forth in or implied by forward-looking
statements. These risks and uncertainties include, but are not
limited to: the risk that sales and profit margins of our molecular
diagnostic tests and pharmaceutical and clinical services may
decline; risks related to our ability to transition from our
existing product portfolio to our new tests, including unexpected
costs and delays; risks related to decisions or changes in
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 and any future tests and services are terminated
or cannot be maintained on satisfactory terms; risks related to
delays or other problems with operating our laboratory testing
facilities and our healthcare clinic; risks related to public
concern over 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; risks related to our projections about our
business, results of operations and financial condition; risks
related to the potential market opportunity for our products and
services; 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 or other
intellectual property; 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 most recent Annual Report on Form 10-K for the
fiscal year ended June 30, 2018, 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. All information in
this press release is as of the date of the release, and Myriad
undertakes no duty to update this information unless required by
law.
Media
Contact: |
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Ron
Rogers(801) 584-3065rrogers@myriad.com |
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Investor
Contact: |
|
Scott
Gleason(801) 584-1143sgleason@myriad.com |
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