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Myriad Highlights RBM Pharma Work, Reports $2M in Q4 Revenues from Companion Diagnostics

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Myriad Genetics reported companion diagnostics revenues of $2 million for its fiscal fourth-quarter compared to none the year before, a result of its $80 million purchase this spring of protein biomarker firm Rules-Based Medicine (PM 04/28/2011). Its total revenues for the fourth quarter were $107.4 million, up 14 percent from $93.9 million a year ago.

On a conference call to discuss the company's earnings, CEO Peter Meldrum noted that through RBM, Myriad now has ongoing collaborations with 20 major pharmaceutical companies to develop companion diagnostics for new drugs.

"These are mostly early stage new drugs in either animal studies or Phase I/Phase II studies looking for markers that would identify patients who would be likely responders or might suffer an adverse event from those drugs," he said.

Meldrum added that "there are a number of products in [Myriad's] current product pipeline that have come out of research from RBM, and a number of those we think will be ready for product launch within the next two years."

In particular he highlighted RBM's psychiatric portfolio, which includes products to help psychiatrists to distinguish between patients with schizophrenia, bipolar disorder, and major depression to ensure they receive the appropriate therapy. According to Meldrum, the company sees this space "an an opportunity in fiscal 2013."

The company said it anticipates between $24 million and $26 million in companion diagnostic service revenues in fiscal 2012.

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