Myriad Genetics Comments on UnitedHealthcare’s Updated Medical Policy for Pharmacogenetic Testing
04 Novembro 2024 - 10:39AM
Myriad Genetics, Inc., (NASDAQ: MYGN), a leader in genetic testing
and precision medicine, was informed on Friday, November 1, 2024,
of an updated medical policy from UnitedHealthcare restricting
access to multi-gene panel pharmacogenetic tests, including
Myriad’s GeneSight test, under its commercial and individual
exchange benefit plans, effective January 1st, 2025.
After initial review of the updated policy, the company strongly
disagrees with UnitedHealthcare’s inclusion of GeneSight in its
decision to change its coverage policy of multi-gene panels based
on its rationale that there is insufficient evidence of efficacy to
support coverage of GeneSight. Myriad is actively engaging with
UnitedHealthcare to discuss the large body of evidence for Myriad’s
proprietary and clinically differentiated mental health medication
test, GeneSight, and is seeking to ensure that enrollees continue
to have access to the test.
“We are surprised and disappointed by UnitedHealthcare’s actions
and reaffirm our conviction in the clinical validity and utility of
GeneSight, which we believe is supported by clinical evidence,
including peer-reviewed research studies,” said Paul J. Diaz,
President and CEO, Myriad Genetics. “We are amidst an ongoing
mental health crisis and the primary care setting is where 70-75%
of antidepressants are prescribed.1 Approaching 3 million tests
to-date, the strong demand for GeneSight, a category-leading
pharmacogenomic test for more than 60 medications commonly
prescribed for depression, anxiety, ADHD, and other psychiatric
conditions, reflects the need for GeneSight as an important tool
for healthcare providers, especially primary care providers, to
help patients suffering from depression and anxiety to find the
right medication treatment when historical trial and error methods
have failed.”
The company does not believe that the updated policy affects
coverage of GeneSight by UnitedHealthcare under Medicare Advantage
and managed Medicaid plans. Myriad remains encouraged by recent
favorable coverage determinations of other health plans for
GeneSight based on its clinical validity and utility and state
biomarker legislation. The company has no reason to believe that
UnitedHealthcare’s position on this topic impacts any other
existing or previous coverage determinations for GeneSight.
The company is scheduled to hold its third quarter 2024 earnings
conference call after the market closes on Thursday November 7,
2024, and intends to provide additional information regarding its
engagement with UnitedHealthcare and its initial views on the
potential financial ramifications to the company of this policy
change.
About the GeneSight TestThe GeneSight
Psychotropic test from Myriad Genetics is the category-leading
pharmacogenomic test for more than 60 medications commonly
prescribed for depression, anxiety, ADHD, and other psychiatric
conditions. The GeneSight test can help inform clinicians about how
a patient’s genes may impact how they metabolize and/or respond to
certain psychiatric medications. Tens of thousands of clinicians
have ordered the GeneSight test for almost three million patients
in order to receive genetic information that is unique to each
patient. The GeneSight test supplements other information
considered by a clinician as part of a comprehensive medical
assessment. The clinical validity, clinical utility and economic
utility of the GeneSight test have been evaluated in multiple
peer-reviewed publications. Learn more at GeneSight.com.
About Myriad Genetics Myriad Genetics is a
leading genetic testing and precision medicine company dedicated to
advancing health and well-being for all. Myriad develops and offers
genetic tests that help assess the risk of developing disease or
disease progression and guide treatment decisions across medical
specialties where genetic insights can significantly improve
patient care and lower healthcare costs. For more information,
visit www.myriad.com.
Safe Harbor Statement This press release
contains “forward-looking statements” within the meaning of the
Private Securities Litigation Reform Act of 1995, including
statements related to Myriad’s engagement with UnitedHealthcare and
seeking to ensure that enrollees continue to have access to the
test. These “forward-looking statements” are management’s
expectations of future events as of the date hereof and are subject
to known and unknown risks and uncertainties that could cause
actual results, conditions, and events to differ materially and
adversely from those anticipated. Such factors include those risks
described in the company’s filings with the U.S. Securities and
Exchange Commission, including the company’s Annual Report on Form
10-K filed on February 28, 2024, as well as any updates to those
risk factors filed from time to time in the company’s Quarterly
Reports on Form 10-Q or Current Reports on Form 8-K. Myriad is not
under any obligation, and it expressly disclaims any obligation, to
update or alter any forward-looking statements, whether as a result
of new information, future events or otherwise except as required
by law.
1 Majtabai R, et al. J Clin Psychiatry. 2008
Jul;69(7):106574.
Investor ContactMatt Scalo(801)
584-3532IR@myriad.com
Media ContactGlenn Farrell(385)
318-3718PR@myriad.com
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