Myriad's signature BRCA test continues to generate lion's share of revenue

Myriad Genetics' ($MYGN) fiscal 2014 first quarter financial results offer some insights as to why the Utah company is suing four rivals for alleged patent violations involving its BRCA-related cancer diagnostic test. Myriad's signature BRACAnalysis test, which screens for BRCA1 and BRCA2 mutations that point to a high risk of breast or ovarian cancer, generated nearly $150 million in revenue for the quarter. That's a 43% hike compared to the same period in fiscal 2013 and 74% of total revenue, Myriad said. A U.S. Supreme Court decision over the summer invalidated some patents involving the test and upheld others, leaving rivals to launch competing diagnostic products, and Myriad to sue in a bid to protect its patents--it also invalidated an astoundingly large market presence. The company said revenue for the quarter hit $202.5 million, growing by 52% over the previous period last year. Net income hit nearly $55.5 million, up from $30.1 million in the fiscal 2013 first quarter. Item

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