Pioneering genetic-testing company Myriad Genetics sells a test called GeneSight that claims to analyze a patient’s DNA and point them to the best depression drug for them.
Scientists and doctors have raised concerns about GeneSight and other similar tests. Now, the FDA is asking for changes to GeneSight, Myriad Genetics disclosed on Tuesday.
Those changes “could significantly limit” broad adoption of GeneSight because it would not be able to make specific drug recommendations, JPMorgan analyst Tycho Peterson and team said.
This news comes after UnitedHealth Group, the nation’s largest health insurer, said it would start covering GeneSight and other such tests for certain patients starting in October.
Myriad Genetics stock dropped nearly 40% in Wednesday morning trade.
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Genetic-testing company Myriad Genetics’s biggest up-and-coming product is a test that claims to match patients with depression to the best medications for them, based on their DNA.
The test, GeneSight, and ones like it have been criticized by scientists and doctors, who’ve raised questions about how useful they are to patients.
Now, the US Food and Drug Administration is asking for changes to the GeneSight test, Myriad disclosed late Tuesday in a regulatory filing. The company didn’t …read more
Source:: Businessinsider – Finance