SALT LAKE CITY, Sept. 26, 2018 (GLOBE NEWSWIRE) — Myriad Genetics, Inc. (NASDAQ: MYGN), a worldwide leader in personalized medicine, today announced that a health economic study to evaluate the financial impact of the GeneSight® combinatorial pharmacogenomic (CPGx) test on major commercial health plans was published in the journal Personalized Medicine. The study concluded that “use of CPGx yielded reduced spending for a commercial health plan across the patient population with psychiatric disorders, as well as among high-cost subpopulations.”
This study utilized claims from a large payer database compiled by OptumInsight and analysed by independent researchers. The objective of the study was to evaluate payer costs associated with treating patients with psychiatric disorders (depression, anxiety, bipolar disorder, panic disorder, PTSD, OCD, and schizophrenia) using the GeneSight test versus treatment-as-usual (TAU). Cost data were tracked for four components of patient care: inpatient, hospital-based outpatient, physician and pharmacy for a 12 month period after testing with GeneSight. Statistical analysis adjusted for differences in the two arms during the 12 months prior to testing. A total of 205 patients tested with GeneSight and 478 patients given TAU were included in the analysis.
The analysis of all psychiatric patients showed that the average total costs savings were $5,505 in the GeneSight group vs TAU over a 12-month post-testing period ($17,627 vs $23,132; p=0.0004). A sub-analysis of patients with depression demonstrated a costs savings of $6,050 in the GeneSight group vs. TAU over a 12-month post-testing period ($18,741 vs $24,791; p=0.0090).
A chart accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/08a280ca-fb2e-45da-b369-956a85b19078
“This study demonstrated the significant value that the GeneSight test can offer to commercial insurance plans and self-funded employers when it is used to guide medication selection for patients with psychiatric disorders,” said Chip Parkinson, executive vice president of Payer Markets and Reimbursement at Myriad Genetics. “The GeneSight test is supported by robust clinical and economic evidence and will help clinicians improve outcomes for their patients with depression and mental illnesses.”
GeneSight is a laboratory-developed pharmacogenomic test that uses cutting-edge technology to measure and analyze clinically important genomic variants in the treatment of psychiatric disorders. The results of the GeneSight report can help a clinician understand the way a patient’s unique genomic makeup may affect certain psychiatric drugs. The analysis is based on pharmacogenomics, the study of genomic factors that influence an individual’s response to drug treatments, manufacturers’ FDA approved drug labels, peer reviewed scientific and clinical publications, and proven drug pharmacology. Quick turnaround time, combined with a customized report of the patient’s genomic makeup, clinical experience, and other factors can provide information to help a physician make personalized drug treatment choices for each patient. For more information about GeneSight, please visit www.genesight.com.
About Myriad Genetics
Myriad Genetics Inc., is a leading personalized medicine company dedicated to being a trusted advisor transforming patient lives worldwide with pioneering molecular diagnostics. Myriad discovers and commercializes molecular diagnostic tests that: determine the risk of developing disease, accurately diagnose disease, assess the risk of disease progression, and guide treatment decisions across six major medical specialties where molecular diagnostics can significantly improve patient care and lower healthcare costs. Myriad is focused on five strategic imperatives: build upon a solid hereditary cancer foundation, growing new product volume, expanding reimbursement coverage for new products, increasing RNA kit revenue internationally and improving profitability with Elevate 2020. For more information on how Myriad is making a difference, please visit the Company’s website: www.myriad.com.
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