Court denies Myriad Genetics' motion to block rival

Send a link to a friend  Share

[March 11, 2014]  (Reuters) Diagnostics company Myriad Genetics Inc said a U.S. court denied a motion that would have stopped rival Ambry Genetics Corp from selling a similar version of Myriad's cancer test.

Myriad's shares fell 12 percent in before the bell on Tuesday.

The company had filed a complaint against Ambry in the U.S. District Court of Utah last July, alleging that Ambry's tests infringed some of its patents.

Myriad has been seeking a preliminary injunction to prevent Ambry from selling the tests, pending final decision on the case.

Myriad said it believed its patents were valid, enforceable and infringed, and was confident that it would prevail based on the full evidence.

A trial date has not been scheduled, Myriad said in a regulatory filing.

Myriad shares were down 12 percent at $33.21 in trading before the bell.

(Reporting by Esha Dey in Bangalore; editing by Saumyadeb Chakrabarty)

[ 2014 Thomson Reuters. All rights reserved.]

Copyright 2014 Reuters. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

< Recent articles

Back to top