3 ms·
Interesting comment and explanation, I was wondering why shares were rising in Myriad and the industry: http://www.washingtonpost.com/business/myriad-genetics-
by salemh 13y ago
Interesting comment and explanation, I was wondering why shares were rising in Myriad and the industry:
http://www.washingtonpost.com/business/myriad-genetics-shares-surge-after-mixed-ruling-from-supreme-court-on-gene-patentability/2013/06/13/c680ff46-d441-11e2-b3a2-3bf5eb37b9d0_story.html http://www.washingtonpost.com/business/myriad-genetics-share...
The high court ruled that genes naturally found in the body cannot be patented, but that synthetically created genetic material, called cDNA, can be patented. That leaves an opening for Myriad to continue making money, Justice Clarence Thomas wrote in the court’s majority decision.
The Supreme Court's move triggered a rally in genetic companies, while none as powerful as Myriad's gains. Industry giant Amgen rose 75 cents, or 0.8%, to $97.12. Smaller genetic companies such as Vermillion, Enzo Biochem and Qiagen rose 1%, 0.9% and 0.7% respectively.
- aroch 13y agoI suppose I could be happy about it since I'm a share holder in Amgen and Qiagen.