The Myriad case has been sent back to the Federal Circuit to review that court’s previous decision in view of last weeks Supreme Court decision in Mayo v. Prometheus. I discussed the Mayo decision, which dealt with medical diagnostic claims. The myriad claims are also diagnostic in nature in that they relate to testing patients for particular genetic mutations that can be contributing factors for ovarian cancer.
Here is the entirety of the order:
11-725
ASSN. FOR MOLECULAR PATHOLOGY V. MYRIAD GENETICS, ET AL.
The petition for a writ of certiorari is granted. The
judgment is vacated, and the case is remanded to the United States Court of Appeals for the Federal Circuit for further consideration in light of Mayo Collaborative Services v. Prometheus Laboratories, Inc., 566 U.S. ___ (2012).
Myriad’s stock took a beating after the Mayo decision as many suspect that a majority of the court would invalidate the claims in the Myriad case. However, with the remand order today, Myriad’s stock is, oddly enough, benefiting from the uncertainty. The new procedural posture means it will likely be at least a year, and more likely two, before the case is taken up by the Supreme Court again. That gives Myriad another year or two where prospective competitors may not be willing to enter the market for these gene diagnostic tests.
Always refreshing to hear a rational awensr.