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Press Release

Myriad Genetics Inc. Forms Relationship with ION Solutions to Deliver Quality Hereditary Cancer Tests and Services to the Nation’s Largest Network of Community Oncologists


Posted on: 21 Oct 16

SALT LAKE CITY, Oct. 21, 2016 (GLOBE NEWSWIRE) -- Myriad Genetics, Inc. (NASDAQ:MYGN), a global leader in personalized medicine, and ION Solutions, a part of AmerisourceBergen, and the largest physician services organization specializing in the support of community oncology, announced today that they have entered into a relationship to deliver quality hereditary cancer test results and services to ION member practices. Through this relationship, Myriad and ION will work together to enhance the operational and clinical value associated with hereditary cancer testing.  Myriad will be ION’s preferred partner for hereditary cancer testing focused on bringing specialized tests and services to meet the specific needs of community oncology practices. This partnership will advance the organizations’ shared goals of providing accurate and comprehensive hereditary cancer test results and service to community oncologists and their patients.

“Myriad has demonstrated its commitment to quality with its significant investments in research, laboratory processes, variant interpretation and exceptional customer service,” said Mark Santos, RPh, president of ION GPO. “This relationship supports ION Solutions in making important genetic tests available to our members in a way that will help inform treatment decisions and build patient care plans in the context of specific practice processes and objectives.”

"ION Solutions is the industry leader in bringing effective business and clinical solutions to the largest segment of community oncology practices in the nation,” said Alexander Ford, president of Myriad Genetic Laboratories, Inc. "Our focus as a company is on providing accurate, affordable and clinically significant genetic test results to providers and the patients they care for. We believe we share this commitment with ION Solutions and their members, and that through this partnership, the largest, most innovative private practices in the country will gain enhanced access to our services.”

About ION Solutions and AmerisourceBergen
ION Solutions, a part of AmerisourceBergen Corporation, is the largest physician service organization and GPO specializing in the support of community oncology. ION provides GPO procurement services, technologies, advocacy resources and expertise to more than half of the community-based oncology practices in the nation to help improve their clinical and operational management. Additional information can be found at www.iononline.com.  AmerisourceBergen is one of the largest global pharmaceutical sourcing and distribution services companies, helping both healthcare providers and pharmaceutical and biotech manufacturers improve patient access to products and enhance patient care. With services ranging from drug distribution and niche premium logistics to reimbursement and pharmaceutical consulting services, AmerisourceBergen delivers innovative programs and solutions across the pharmaceutical supply channel in human and animal health. With over $140 billion in annual revenue, AmerisourceBergen is headquartered in Valley Forge, PA, and employs approximately 19,000 people. AmerisourceBergen is ranked #12 on the Fortune 500 list. For more information, go to www.amerisourcebergen.com.

About Myriad Genetics
Myriad Genetics Inc., is a leading personalized medicine company dedicated to being a trusted advisor transforming patient lives worldwide with pioneering molecular diagnostics.  Myriad discovers and commercializes molecular diagnostic tests that: determine the risk of developing disease, accurately diagnose disease, assess the risk of disease progression, and guide treatment decisions across six major medical specialties where molecular diagnostics can significantly improve patient care and lower healthcare costs.  Myriad is focused on three strategic imperatives:  transitioning and expanding its hereditary cancer testing markets, diversifying its product portfolio through the introduction of new products and increasing the revenue contribution from international markets.  For more information on how Myriad is making a difference, please visit the Company's website: www.myriad.com.

Myriad, the Myriad logo, BART, BRACAnalysis, Colaris, Colaris AP, myPath, myRisk, Myriad myRisk, myRisk Hereditary Cancer, myChoice, myPlan, BRACAnalysis CDx, Tumor BRACAnalysis CDx, myChoice HRD, Vectra, GeneSight and Prolaris are trademarks or registered trademarks of Myriad Genetics, Inc. or its wholly owned subsidiaries in the United States and foreign countries. MYGN-F, MYGN-G.

Safe Harbor Statement
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to Myriad being ION’s preferred partner for hereditary cancer testing; and the Company’s strategic directives under the caption “About Myriad Genetics.” These “forward-looking statements” are based on management’s current expectations of future events and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those described or implied in the forward-looking statements. These risks include, but are not limited to: the risk that sales and profit margins of our existing molecular diagnostic tests and pharmaceutical and clinical services may decline or will not continue to increase at historical rates; risks related to our ability to transition from our existing product portfolio to our new tests; risks related to changes in the governmental or private insurers’ reimbursement levels for our tests or our ability to obtain reimbursement for our new tests at comparable levels to our existing tests; risks related to increased competition and the development of new competing tests and services; the risk that we may be unable to develop or achieve commercial success for additional molecular diagnostic tests and pharmaceutical and clinical services in a timely manner, or at all; the risk that we may not successfully develop new markets for our molecular diagnostic tests and pharmaceutical and clinical services, including our ability to successfully generate revenue outside the United States; the risk that licenses to the technology underlying our molecular diagnostic tests and pharmaceutical and clinical services tests and any future tests are terminated or cannot be maintained on satisfactory terms; risks related to delays or other problems with operating our laboratory testing facilities; risks related to public concern over our genetic testing in general or our tests in particular; risks related to regulatory requirements or enforcement in the United States and foreign countries and changes in the structure of the healthcare system or healthcare payment systems; risks related to our ability to obtain new corporate collaborations or licenses and acquire new technologies or businesses on satisfactory terms, if at all; risks related to our ability to successfully integrate and derive benefits from any technologies or businesses that we license or acquire, including but not limited to our acquisition of a healthcare clinic in Germany; risks related to our projections about the potential market opportunity for our products; the risk that we or our licensors may be unable to protect or that third parties will infringe the proprietary technologies underlying our tests; the risk of patent-infringement claims or challenges to the validity of our patents; risks related to changes in intellectual property laws covering our molecular diagnostic tests and pharmaceutical and clinical services and patents or enforcement in the United States and foreign countries, such as the Supreme Court decision in the lawsuit brought against us by the Association for Molecular Pathology et al; risks of new, changing and competitive technologies and regulations in the United States and internationally; and other factors discussed under the heading “Risk Factors” contained in Item 1A of our Annual Report on Form 10-K for the fiscal year ended June 30, 2016, which has been filed with the Securities and Exchange Commission, as well as any updates to those risk factors filed from time to time in our Quarterly Reports on Form 10-Q or Current Reports on Form 8-K.

GlobeNewswire
globenewswire.com

Last updated on: 24/10/2016

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