Assurex Health, a wholly-owned subsidiary of Myriad Genetics, Inc.
(NASDAQ:MYGN), today announced that a poster featuring the
GeneSight® test will be presented at the Neuroscience Education
Institute (NEI) Psychopharmacology Congress being held Nov.
3-6, 2016 in Colorado Springs, Colo.
In this subanalysis of a previously published study, patients
with generalized anxiety disorder (GAD) experienced significant
cost savings when decisions congruent with the GeneSight report
were made by healthcare providers. In the previously
published study, congruency with the GeneSight test was shown to
deliver significant cost savings for patients with major depressive
disorder (MDD).
“We believe that GeneSight has the potential to improve outcomes
for patients being treated with psychotropic drugs and eliminate a
significant amount of waste in our healthcare system,” said Bryan
M. Dechairo, Ph.D., chief medical and science officer, Assurex
Health. “We look forward to sharing these data with the medical
community and payers.”
Below is a summary of the featured presentation at NEI
(#NEI2016).
Poster PresentationTitle:
GeneSight Psychotropic Decreases Medication Costs for Patients with
Anxiety and Bipolar Disorders in a Large, Prospective Case-Control
ProjectPresenter: Kim Horn.Date:
Friday, Nov. 4, 2016: 6:00-7:30 p.m. MT.
This study assessed the economic utility of the GeneSight test
for 318 patients with generalized anxiety disorder (GAD) when
healthcare providers made decisions congruent with the GeneSight
test report. Patients in the GeneSight-guided group of the
previously published study were subdivided into two groups. The
first group included patients whose healthcare provider made
treatment decisions congruent with the GeneSight test report. The
second group included patients whose provider made treatment
decisions incongruent with the test report. The analysis compared
total medication costs between the congruent and incongruent groups
for patients based on their diagnosis of GAD.
The results showed that, for GAD patients, the savings for
congruent versus incongruent decisions was $6,747 per member per
year ($5736 vs $12,483, p<0.004). Importantly, GAD patients
experienced greater savings in CNS medications (2-fold),
antineoplastic medications (2.5-fold) and gastroenterology
medications (2.8-fold). Patients with comorbid GAD and MDD whose
medication regimens were congruent with the GeneSight test had the
highest cost savings of any group ($10,573). This subanalysis
showed significant cost savings for GAD patients when healthcare
providers made decisions congruent with the GeneSight test report.
Much of the cost savings came from classes of medicines used in
primary care.
Anxiety disorders are commonly seen in the primary care setting
and are often associated with comorbid medical illnesses, such as
heart disease, migraine headaches and back pain for which patients
with anxiety often seek help from their primary care provider. The
GeneSight test may have enabled healthcare providers to more
appropriately treat the underlying anxiety disorder, thereby
reducing the number of physical complaints that previously required
medication. Additionally, the previously published study showed
that patients whose treatment was guided by the GeneSight test
experienced increased adherence and reduced polypharmacy, which may
have also contributed to cost savings associated with primary care
medications.
About The GeneSight® TestGeneSight testing
helps healthcare providers make better treatment decisions based on
a person's genetic makeup. GeneSight testing is based on advanced
CPGx® technology, a patented approach that analyzes variations and
combinations of a person's genes along with FDA-approved
medications for behavioral health conditions and chronic pain.
Peer-reviewed, published studies have proven its clinical benefits
and substantial healthcare cost savings. More than 15,000
healthcare professionals have used GeneSight with over 400,000
patients. Learn more at www.GeneSight.com.
About Assurex HealthAssurex Health, a
wholly-owned subsidiary of Myriad Genetics, Inc., is an
informatics-based, personalized medicine company providing
treatment decision support to healthcare providers for behavioral
health and chronic pain conditions. Assurex helps people achieve
mental wellness with advanced CPGx®, a proprietary combinatorial
pharmacogenomics technology that provides individualized treatment
support for neuropsychiatric conditions. Assurex Health is the only
company in the category with multiple peer-reviewed, published
studies that demonstrate the clinical validity and clinical utility
of the GeneSight® test, including its substantial healthcare cost
savings benefit. The Company has grown every quarter and has
expanded internationally through a partnership with Canada's Centre
for Addiction and Mental Health (CAMH). For more on how Assurex
Health is helping people gain mental wellness, visit
www.AssurexHealth.com.
About Myriad GeneticsMyriad 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, EndoPredict, myPath, myRisk, Myriad myRisk, myRisk Hereditary
Cancer, myChoice, myPlan, BRACAnalysis CDx, Tumor BRACAnalysis CDx,
myChoice HRD, Vectra, Prolaris and GeneSight 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 StatementThis press release
contains “forward-looking statements” within the meaning of the
Private Securities Litigation Reform Act of 1995, including
statements relating to the Company presenting a new study at the
Neuroscience Education Institute Annual Meeting being held Nov.
3-6, 2016 in Colorado Springs, Colo.; the accuracy and
effectiveness of the GeneSight test in selecting psychotropic drug
therapy or saving the healthcare system money; and the Company’s
strategic directives under the captions “About GeneSight” and
“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 Assurex, Sividon and the
Clinic; 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; the risk that we may be unable to comply with
financial operating covenants under our credit or lending
agreements; the risk that we will be unable to pay, when due,
amounts due under our credit or lending agreements; 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.
Media Contact:
Ron Rogers
(801) 584-3065
rrogers@myriad.com
Investor Contact:
Scott Gleason
(801) 584-1143
sgleason@myriad.com
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