Myriad Genetics Inc. (MYGN)

[$hylo]

I agree. After this initial shock, MYGN will stair climb back to it's 52 wk highs again in no time. Earnings report last May 7 were above expectations (revenue up 21%, earnings up 34%), and the company raised 2013 revenue guidance again, from $575-585M to $595-600M, and EPS guidance from $1.55-1.58 to $1.65-1.67. IMO, sellers the past 2 trading days will start re-investing again very soon. In fact, Myriad Genetics was upgraded to Outperform from Market Perform at JMP Securities, citing valuation and said the Supreme Court decision removes an overhang.

No Impact

“We don’t expect today’s decision to impact our business operations,” Ronald Rogers, a spokesman for Myriad, said yesterday in a telephone interview. The Supreme Court opinion doesn’t affect the vast majority of the company’s patent claims on the tests for the two breast cancer genes, he said.

“The remaining claims are valid and enforceable,” Rogers said, adding that Myriad offers “very high quality tests with fast turnaround times and good customer service.” The company also plans to start offering its own cancer-wide gene risk test this fall, which will analyze 25 genes that can put people at higher risk for various cancers.

http://www.bloomberg.com/news/2013-06-14/myriad-gene-patent-ruling-triggers-race-for-cancer-tests.html?cmpid=yhoo