The acquisition lets Myriad acquire the maker of EndoPredict, which just received reimbursement status from Aetna and meets ASCO guidelines for payment by Medicare contractors.
Myriad Genetics announced Tuesday it had acquired Sividon Diagnostics, the maker of EndoPredict, a test that predicts progression of breast cancer and fits with the company’s strategy to produce molecular diagnostics for every step in healthcare, from gauging risk to deciding treatment.
The purchase, for approximately $39.2 million US dollars, allows for up to $16.8 million more in performance-based payments. Myriad was already Sividon’s partner for marketing EndoPredict in Europe, and the acquisition comes as the test is gaining reimbursement status in the United States. Aetna covers the test, and payment from Medicare contractors is anticipated, due to support in guidelines from the American Society of Clinical Oncology.
In a statement, Myriad President and CEO Mark C. Capone said EndoPredict will be “the foundational product” of the company’s transition to kit-based tests, which allow the diagnostic test to be evaluated in a hospital instead of the test material being shipped to a specialized laboratory. Myriad is “transitioning the product to the Thermo Fisher QuantStudio platform as a key step in the international kit strategy,” the statement said.
EndoPredict is backed by 5 studies involving 4000 patients and has been used by 13,000 patients worldwide. A leading prognostic test, it gauges breast cancer aggressiveness and guides patients whether to pursue chemotherapy. It fits with the company’s “4-in-6” strategy of creating tests that (1) evaluate risk of disease (2) confirm diagnosis (3) establish prognosis and (4) select therapy. Myriad seeks to cover this ground across 6 therapeutic areas: oncology, urology, preventive care, dermatology, autoimmune disease, and neuroscience.
“Sividon brings to Myriad the best-in-class breast cancer prognosis test and strengthens our market leading oncology portfolio of high value personalized medicine products,” Capone said.
Christoph Petry, CEO of Sividon Diagnostics, said Myriad had strengths in the regulatory, reimbursement and commercialization areas to bring the test to a larger market, which both companies feel is poised to grow.
Outside the United States, EndoPredict will seek coverage status in the United Kingdom, Canada, and Germany during 2016.
Navigating Health Policy in an Election Year: Insights From Dr Dennis Scanlon
April 2nd 2024On this episode of Managed Care Cast, we're talking with Dennis Scanlon, PhD, the editor in chief of The American Journal of Accountable Care®, about prior authorization, price transparency, the impact of health policy on the upcoming election, and more.
Listen
Prices for care at hospital trauma centers vary across hospitals; drug shortages reached a record high during the first quarter of 2024; although 3 of the biggest makers of asthma inhalers pledged to cap out-of-pocket costs for some US patients at $35, these do not apply to daily inhalers used by the youngest kids with asthma.
Read More
Exploring Medicare Advantage Prior Authorization Variations
March 26th 2024On this episode of Managed Care Cast, we're talking with the authors of a study published in the March 2024 issue of The American Journal of Managed Care® about their findings on variations in prior authorization use across Medicare Advantage plans.
Listen
The Biden administration recently launched the Global Health Security Strategy, a new effort to combat the spread of infectious diseases; lawmakers zeroed in on the risks of massive consolidation in health care during the first congressional hearing on the Change Healthcare hack; the FDA recently announced the recall of a pair of heart devices linked to numerous deaths and injuries.
Read More