The Supreme Court ruled unanimously on Thursday that human genes cannot be patented, opening up new markets for healthcare companies like Cancer Genetics (OTCQB: CGIX) that develop genetic tests.
The case involved two genes, BRCA1 and BRCA2, believed to play a role in the development of breast and ovarian cancer. Myriad Genetics (NasdaqGS: MYGN) discovered and patented the genes, creating a monopoly on their use in genetic tests. The court ruled that the genes, as a product of nature, cannot be patented.
“Myriad did not create anything,” Justice Clarence Thomas wrote. “To be sure, it found an important and useful gene, but separating that gene from its surrounding genetic material is not an act of invention.” The court ruled that synthetic forms of DNA can still be patented. Continue reading “Supreme Court Ruling Opens New Markets for Cancer Genetics” »
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