With GeneSight health economics data in hand, Myriad wins UnitedHealth coverage

Myriad Genetics jumped $15.87 (55%) to $45.01 Thursday, lifting its market cap by $1.2 billion to $3.3 billion, after UnitedHealth said it will begin covering its genetic depression test. The decision, which goes into effect Oct. 1, follows two studies from the company that demonstrated the GeneSight Psychotropic test’s cost-savings, as well as its potential to improve patient outcomes.

UnitedHealth Group Inc. (NYSE:UNH) issued a positive decision to cover genetic panels that screen no more than 15 relevant genes for patients with a diagnosis for major depressive disorder or anxiety and who have failed at least one prior medication to treat their condition...