FMI—In 2Q14, 65% of revenue came from submitting reports directly to treating MDs, and 35% of revenue came from pharma partners. ILMN’s partnership with Big Pharma companies announced today won’t affect the former, but it will likely affect the latter.
As CMS reimbursement kicks in, FMI’s revenue split should move to 85/15 from the current 65/15, which means even less impact from what ILMN is doing with Big Pharma.
“The efficient-market hypothesis may be
the foremost piece of B.S. ever promulgated
in any area of human knowledge!”