Skip Navigation

Close and don't show again.

Your browser is out of date.

You may not get the full experience here on National Journal.

Please upgrade your browser to any of the following supported browsers:

Why Is Myriad's Stock Booming After the Supreme Court Rejected Its Right to Patent Natural DNA? Why Is Myriad's Stock Booming After the Supreme Court Rejected Its Rig...

This ad will end in seconds
 
Close X

Not a member? Learn More »

Forget Your Password?

Don't have an account? Register »

Reveal Navigation
 

 

Politics

Why Is Myriad's Stock Booming After the Supreme Court Rejected Its Right to Patent Natural DNA?

Myriad's stock on Thursday, June 13, as of 12:55 PM.

It looks like Myriad Genetics isn't having such a bad day after all. In a unanimous decision issued Thursday, the Supreme Court ruled against Myriad in a high-profile case, saying that the company cannot patent natural DNA.

You would think this might be a bit of a bummer for the genetics company. Turns out, it's not sweating it:

 

 
Myriad's stock on Thursday, as of 12:55 PM. 

 

After a quick, sharp tumble right after the top-line of the Supreme Court's decision was released, Myriad's stock hit a four-year high. Why are investors feeling so bullish? Because once they started looking at the actual opinion, they seem to have found enough ambiguity to feel comfortable jumping in. The court-approved right for Myriad to patent synthetic DNA, or cDNA, seems to have saved what could have been a pretty rough morning for the company.

Myriad blasted out a press release late Thursday morning that bolstered its public positivity after the ruling:

“We believe the Court appropriately upheld our claims on cDNA, and underscored the patent eligibility of our method claims, ensuring strong intellectual property protection for our BRACAnalysis test moving forward,” said Peter D. Meldrum, president and CEO. “More than 250,000 patients rely upon our BRACAnalysis test annually, and we remain focused on saving and improving peoples’ lives and lowering overall healthcare costs.”

Of course, it also doesn't hurt your stock when you have Angelina Jolie on your side.

Job Board
Search Jobs
Biomedical Service Internship Position
American Society of Civil Engineers | Flint, MI
Fire Sprinkler Inspector
American Society of Civil Engineers | Charlotte, NC
Professional Development Program Engineer
American Society of Civil Engineers | Farmington Hills, MI
Deputy Director of Transit Operations
American Society of Civil Engineers | San Jose, CA
Transportation Planner
American Society of Civil Engineers | Salinas, CA
Assistant Professor - Water Resources/Ecological Engineering
American Society of Civil Engineers | Auburn, AL
Product Manager - Chemical Development and Supply - Tulsa, OK
American Society of Civil Engineers | Tulsa, OK
Commissioning Intern
American Society of Civil Engineers | Chicago, IL
Assessment and Remediation Team Lead
American Society of Civil Engineers | Regina, SK
Business Development Manager
American Society of Civil Engineers
Sr. Controls Systems Engineer
American Society of Civil Engineers | Grand Island, NE
Senior Project Manager- Transportation
American Society of Civil Engineers | San Antonio, TX
Materials Engineer 2
American Society of Civil Engineers | IL
Land Surveyor
American Society of Civil Engineers
Quality Engineer
American Society of Civil Engineers | Attica, IN
 
Comments
comments powered by Disqus