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.
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.
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.
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.
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