The high court ruled that genes naturally found in the body cannot be patented, but that synthetically created genetic material, called cDNA, can be patented. That leaves an opening for Myriad to continue making money, Justice Clarence Thomas wrote in the court’s majority decision.
The Supreme Court's move triggered a rally in genetic companies, while none as powerful as Myriad's gains. Industry giant Amgen rose 75 cents, or 0.8%, to $97.12. Smaller genetic companies such as Vermillion, Enzo Biochem and Qiagen rose 1%, 0.9% and 0.7% respectively.
http://www.washingtonpost.com/business/myriad-genetics-share...
The high court ruled that genes naturally found in the body cannot be patented, but that synthetically created genetic material, called cDNA, can be patented. That leaves an opening for Myriad to continue making money, Justice Clarence Thomas wrote in the court’s majority decision.
The Supreme Court's move triggered a rally in genetic companies, while none as powerful as Myriad's gains. Industry giant Amgen rose 75 cents, or 0.8%, to $97.12. Smaller genetic companies such as Vermillion, Enzo Biochem and Qiagen rose 1%, 0.9% and 0.7% respectively.