Myriad Genetics Inc. (MYGN:US), the biggest maker of tests for hereditary risks of breast and ovarian cancer, fell the most since December after losing a court bid to block competition while a patent-infringement case is pending.
Myriad is unlikely to win lawsuits claiming tests sold by Ambry Genetics Corp. violate its patents and hurt business, U.S. District Judge Robert Shelby in Salt Lake City said in a decision. There are “substantial questions” as to whether Myriad’s ideas cover something eligible for a patent, he said.
The tests check genes known as BRCA to determine if there is a hereditary risk of developing the diseases.
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