JPMorgan steps in for Myriad Genetics review

Fresh on the heels of its Phase III disaster with the Alzheimer's drug Flurizan, Myriad Genetics announced that it has brought in JPMorgan Chase to help it conduct a strategic review. The developer is considering a split of its molecular diagnostics business and pharma development operations. Myriad had $65.5 million on hand June 30, largely from the $100 million upfront fee it collected from H. Lundbeck for Flurizan. Lundbeck reported a 52 percent drop in second quarter profits after writing off Flurizan.

--read the report in the Wall Street Journal

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