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Myriad Genetics, Inc.

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Myriad Genetics, Inc. - Healthcare showcase

Year Founded & Workforce

1991

2,400 Employees

Industry

Healthcare

Services

Companion DiagnosticsPharmacogenomic Testing
M

Myriad Genetics, Inc. Employee Contacts

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Myriad Genetics, Inc. Overview

Company Headquarters: Utah, US

Founded: 1991

Workforce: 2,400+

Company Working: Myriad Genetics, Inc. (Myriad) is one of the first few genomics companies pioneering in molecular diagnostics. Myriad is one of the leaders in molecular diagnostics with product offerings in the therapeutic areas such as hereditary cancer, urological cancer, lung cancer, autoimmune disorders, and other diseases. In 1996, Myriad introduced the first molecular diagnostic test for hereditary breast and ovarian cancer. The test, BRACAnalysis was widely accepted and later approved by FDA for the companion diagnostics for breast cancer. The company has international headquarters located in Switzerland. Additionally, the Company has laboratories in Austin (Texas), Munich (Germany), Salt Lake City (UT), South San Francisco (CA). Myriad is present in 128 countries and serves its customers through its subsidiaries and distributors.

Strategy

Myriad’s strategy is focused on five critical success factors-building upon a solid hereditary cancer foundation, growing new product volume, expanding reimbursement coverage for new products, increasing RNA kit sales internationally, and improving profitability. The company is also focused on becoming a trusted advisor for transforming the lives of the patients worldwide with its pioneering diagnostic products.

Company Snapshot

$740.5M

Revenue

2,400

Employees

1991

Founded

Utah, US

Headquarters

SWOT Analysis

Strengths

  • Skilled researchers
  • Strong position in genetic testing
  • Strong distribution network
  • Strong product pipeline

Weaknesses

  • Comparatively weaker market share taking into consideration its potential capabilities

Opportunities

  • Expansion in other geographical regions through collaborations and partnerships with local companies

Threats

  • Strict government regulations

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Product Offering

  • Myriad Genetics, Inc.
    • Companion Diagnostics
    • Pharmacogenomic Testing

Financial Performance

Explore key financial metrics, segmented revenue, balance sheet health, and performance trends.

By Business Segment: Sales rose from USD 740.5 Mn in 2016 to USD 772.6 Mn in 2018.
Myriad Genetics, Inc. — By Business Segment
Series (USD Mn)201620172018
Sales740.5769.9772.6
R&D70.674.470.8

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