Myriad mulls split of pharma and Dx units
This article was originally published in Clinica
Executive Summary
Myriad Genetics could have spun off its pharma business by the end of the year, keeping hold of its more lucrative molecular diagnostics operations. This is one of "several strategic alternatives" that the Salt Lake City, Utah firm said its board of directors was currently considering in order to maximise shareholder value. The company said it intends to announce a decision by the end of the year. Myriad's molecular diagnostics business – which sells genetic tests for various hereditary cancers, including breast, ovarian and colorectal – is the company's main money-spinner, with revenues increasing steadily over the last several quarters. The pharmaceutical business contributes to only a fraction of Myriad's revenue, which is generated mainly from research and licensing fees.