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Myriad Genetics: On Day One of JP Morgan Healthcare Conference, San Francisco, January 12, 2015 – January 15, 2015

Reporter: Aviva Lev-Ari, PhD, RN

Myriad Genetics

Myriad Genetics CEO Peter Meldrum provided a broad overview of the company’s test portfolio, starting with myRisk Hereditary Cancer, a panel of 25 genes for evaluating a patient’s risk for colorectal, breast, endometrial, ovarian, prostate, pancreatic, and gastric cancer, as well as melanoma.

According to Meldrum, conversion to myRisk from the firm’s BRACAnalysis test has gone well enough that Myriad’s laboratory capacity was recently overwhelmed, resulting in longer turnaround times for results, though the issues have been resolved.

He also noted that myRisk has been able to find 51 percent more people at risk for hereditary breast cancer than BRACAnalysis.

In October, Myriad received a draft local coverage determination from Medicare contractor Palmetto GBA for its Prolaris prostate cancer test, and Meldrum said on Monday that the company anticipates a national coverage decision by Medicare to come, though he didn’t provide a timeframe.

Myriad has also been active in pursuing companion diagnostic test development deals, and in late 2014 the US Food and Drug Administration approved BRACAnalysis CDx as a companion diagnostic test for AstraZeneca’s Lynparza (olaparib) for treating advanced ovarian cancer associated with BRCA mutations.

Lynparza is a poly ADP-ribose polymerase (PARP) inhibitor. Myriad has companion diagnostic development partnerships with five pharmaceutical firms that are also developing PARP inhibitors, Meldrum said. He added that in the US and Europe about 400,000 patients could use such drugs, and companion diagnostics to guide treatment, each year.

In total, Myriad is collaborating with more than 20 pharmas in the companion diagnostic space, he said, noting that in addition to PARP inhibitors, the firm is developing companion diagnostics for platinum drugs used as adjuvant and neoadjuvant therapies.

Regarding Myriad’s international business, the company now has a direct sales force of 45, Meldrum said, and in fiscal year 2014, its international revenues grew 109 percent year over year. For FY 2015, the company has targeted $50 million in revenues for Europe.

Meldrum also said that in Europe, the firm may adopt a strategy of offering its tests as kits that can be used in reference laboratories, rather than having tests carried out in Myriad’s lab. Such a step would have the potential to grow revenues in Europe, where the use of reference labs, instead of a company-owned lab, is prevalent, he noted.

SOURCE

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