Myriad Genetics rises after court grants U. of Utah motion related to BRCA tests

theflyonthewall.com

A court filing in a Utah district court revealed that a judge granted the University of Utah's motion for judicial notice in support of a motion for preliminary injuntive relief in a case against Ambry Genetics. Ambry, the defendant in the case, objected to the University of Utah's characterization that a CMS reduction demonstrated Myriad Genetics' (MYGN) irreparable harm. The suit relates to a Centers for Medicare and Medicaid Services notice of a reimbursement reduction from $2,700 to $1,438.14 for BRCA1 and BRCA2 tests, effective January 1, 2014. Shares of Myriad Genetics are up 2.7% to $37.26 in afternoon trading.

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