Here's Rogers' full statement as submitted to FierceMedicalDevices:
"1. Patients and providers should carefully evaluate the different testing options for BRCA as there are significant quality differences. For example, Quest is claiming a 99% accuracy rate, which means there is a potential for 170 errors for every BRCA 1 and 2 test. In comparison, Myriad's analytical sensitivity is 99.98%.
2. Quest is using a large rearrangement technology (MLPA) that is not approved by the FDA for clinical use in the United States and according to the manufacturer, MRC Holland, is only to be used for 'research purposes'. In fact, the MRC Holland website states: 'All SALSA MLPA kits are sold by MRC-Holland for research purposes only. Our kits are not FDA/CE certified for diagnostic purposes!'
3. Quest is referencing a 13% uncertain variant rate compared to Myriad's 2%, which means 11% of Quest patients will receive an uncertain test result that would have been interpreted by Myriad.
4. With more than 1 million patients tested, Myriad is committed to providing the most accurate, timely information to assist patients and providers using BRCA test results to make life-saving decisions."
Aaaaa........I'm guessing you're short? Your post is like that of a a person who just started trading yesterday. correction in this stock may not be over. And it may well drop a couple more points in the next month. But looking out 6 months from now is a different story. 27 or 28 is a realistic price then.
Quest has been already afraid by just getting into this field if you read its comment. MYGN has various patents to protest its products. After all it is the pioneer who invented this test. Quest and others want a piece of pie? then pay for it.
Per Forbes - When Quest sued it ahead of its product launch, a Myriad spokesman told GenomeWeb that it
would be “premature to comment” but that the patents around the tests are “valid and enforceable.”
Q through a certain Wendy Bost, a Q spokeswoman, says that their test does not violate any valid BRCA patent that MYGN may assert.
We shall see.
Appears that Q is the one that is afraid and has made a pre-emptive court complaint ahead of its product launch apparently filed on Oct 10, 2013. Is Q looking for court protection?
Q believes that MYGN will bring a patent-infringement lawsuit if it starts selling its BRCA test products.
I guess it could! What do you think?
Can anyone access that Q complaint in Santa Ana, California court (per Bloomberg)?