Myriad Genetics ponders splitting its business

Myriad Genetics' board of directors is considering a possible spinoff of its core molecular diagnostics business as it undertakes a strategic review of the company's options. Chairman of the Board John Henderson says that the board won't dally, though. He says the company should make a decision on its next big step by the end of the year.

The review comes shortly after Myriad Genetics' Flurizan [1] earned a one-time payment of $100 million, only to founder soon after in a clinical trial. Most of its revenue comes from its molecular diagnostics business. A spin-off would essentially split the pharma work from molecular diagnostics.

"The board is committed to growing both of our business opportunities in a way that seeks to maximize shareholder value," said Henderson. "We are continuing our deliberations and intend to announce a decision before the end of the year

- check out Myriad's release [2]
- read the AP story [3]

Related Articles:
Flurizan program worries hurt Myriad's stock [1]
Myriad Genetics pencils in $350M deal for Flurizan [4]
Myriad drug fails in trial [5]