Myriad Genetics Earnings Call Nuggets: Companion Diagnostic and BRACAnalysis
Myriad Genetics, Inc. (NASDAQ:MYGN) recently reported its fourth quarter earnings and discussed the following topics in its earnings conference call.
Amanda Murphy – William Blair & Company: I just had a question about some of the work you are doing with the pharma companies on the Companion Diagnostic. So, there has been quite a lot of talk about competition, but I am curious how, number one, maybe you could just talk to the process with the FDA, just in terms of timing and data required to get the IDE designation? Then secondly, in terms of your relationship with some of the pharma companies, is it an exclusive arrangement in terms of your ability to be a Companion Diagnostic test for them once they are on the market?
Peter D. Meldrum – President and CEO: Yes. As you pointed out, we have six major collaborations with pharmaceutical companies developing PARP inhibitors. We have submitted and it has been accepted by the FDA, our IDE that as a Companion Diagnostic product will be approved on the same clinical data and in a parallel process with the approval of the drug itself. We are excited about this opportunity. Obviously, we don’t have an exclusive from Myriad’s perspective with the pharma companies. We are free to work with any of the pharma companies that are developing PARP inhibitors. As we work through the regulatory process, we’re working very closely with pharmaceutical companies as collaborators on how best to ensure timely and rapid uptake of their particular drugs.