By this time next year, Myriad Genetics (Salt Lake City) may be two separate companies: one focusing on the company’s pharmaceutical business and the other on the diagnostics business. Spinning off the pharmaceutical division from the molecular diagnostics division—best known for its BRACAnalysis test for breast cancer—is one of the "strategic alternatives" now being reviewed by Myriad’s board of directors, the company announced on September 11.
"The board is committed to growing both of our business opportunities in a way that seeks to maximize shareholder value," said John Henderson, board chairman. "We are continuing our deliberations and intend to announce a decision before the end of the year." According to Myriad, spinning off the pharmaceutical subsidiary from the molecular diagnostic business would result in two independent and highly focused businesses.
October 2008 - Table of Contents
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