Oct 15- Quest Diagnostics Inc on Tuesday became the largest U.S. company to start offering gene-based tests for inherited forms of breast cancer since the U.S. Supreme Court ended Myriad Genetics Inc's monopoly on the tests for specific gene mutations.
Oct 1- Shares of molecular diagnostics company Myriad Genetics Inc jumped 13 percent in morning trading after the company said the proposed cut in Medicare reimbursement rates for one of its tests was the result of a clerical error.
*Sees earnings/shr $1.87- $1.94 for year ending June 2014 vs est $1.86. *Fourth-quarter earnings/share 53 cents vs est 44 cents. The company said it expects a profit of $1.87- $1.94 per share on revenue of $690 million to $710 million, including about $665 million- $685 million from its molecular diagnostics business.
*Fourth-quarter earnings per share 53 cents vs est 44 cents. *Co sees fiscal 2014 per-share profit at $1.87 to $1.94. Net income rose to $44.1 million, or 53 cents per share, from $29.1 million, or 34 cents per share, a year earlier.
The Supreme Court unanimously ruled that human genes cannot be patented, with CNBC's Bertha Coombs; David Resnick, Nixon Peabody LLP; Mitch Epner, Wilk Auslander Counsel; and Rich Lowry, National Review.
NEW YORK, June 13- The U.S. Supreme Court decision on Thursday to uphold patent protections for genetic material that has been changed in the laboratory but invalidate patents for purely natural DNA may seem like a partial setback for the biotech industry, but experts said it isn't: the industry has already moved on.
A unanimous Supreme Court decision barred patents on naturally occurring DNA, but analysts said the ruling did little harm to biotech companies.
CNBC's Bertha Coombs reports shares of Myriad Genetics are hitting an all-time high after the Supreme Court ruled a naturally occurring human gene cannot be patented, but upheld key DNA patents of Myriad's BRACAnalysis test.
*Myriad Genetics shares rise after ruling, then fall. WASHINGTON, June 13- A unanimous U.S. Supreme Court on Thursday prohibited patents on naturally occurring human genes but allowed legal protections on synthetically produced genetic material in a compromise ruling hailed as a partial victory for patients and the biotechnology industry.
June 13- The U.S. Supreme Court decided on Thursday that human genes cannot be patented, but said patents on synthetically produced genetic material are valid. The Supreme Court case involved Myriad Genetics Inc and its patents on two genes known to raise the risk of breast and ovarian cancers.
The Supreme Court ruled a naturally occurring human gene cannot be patented, but upheld key DNA patents of Myriad's BRACAnalysis test. CNBC's Bertha Coombs reports.
A check on biotech stocks after the Supreme Court justices say naturally occurring human genes cannot be patented, with CNBC's Seema Mody.
*Myriad Genetics shares up more than 10 percent after ruling. WASHINGTON, June 13- In a first of its kind ruling on human genes, a unanimous U.S. Supreme Court on Thursday decided that synthetically produced genetic material can be patented but naturally occurring DNA extracted from the human body cannot.
WASHINGTON, June 13- The U.S. Supreme Court on Thursday ruled partially for Myriad Genetics Inc on the closely watched issue of whether human genes can be patented, deciding synthetically produced genetic material can be patented but naturally occurring DNA cannot. Myriad's shares jumped more than 8 percent to $36.83 after the ruling was issued.
WASHINGTON, June 13- The U.S. Supreme Court on Thursday issued a mixed ruling in a case concerning patents held by Myriad Genetics Inc over the closely watched issue of whether human genes can be patented.
Shares of genetic test maker rose 4 percent, after actress Anjolina Jolie said to undergo double-mastectomy, following testing which showed she carried a gene for breast cancer.
The Supreme Court will hear arguments in a case that calls into question whether DNA can be claimed as intellectual property, and remain off limits without the permission of the patent holder.
Take a look at some of Thursday's midday movers:
Check out which companies are making headlines after the bell Monday.
Take a look at some of Monday's midday movers: