Myriad Genetics to Split Pharma From Dx Business, Creating New Drug Company

Myriad Genetics’ board of directors has unanimously approved a plan to spin off the company’s research and drug development business from its core diagnostics business. The parent company is eyeing new acquisitions for the diagnostics firm and plans to infuse the fledgling drug company with enough cash to help it through at least two products submissions to the US Food and Drug Administration.

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