SOURCE: Myriad Genetics

May 15, 2007 06:30 ET

$4 Trillion in Cost Savings to U.S. From New Disease-Modifying Alzheimer's Treatments

Study Supported by Educational Grant From Myriad

SALT LAKE CITY, UT -- (MARKET WIRE) -- May 15, 2007 -- Myriad Genetics, Inc. (NASDAQ: MYGN) reported today that a new study has estimated the potential savings to the United States healthcare system, from a disease-modifying Alzheimer's drug, at up to $4.0 trillion. These savings would be for new cases arising between 2010, when the first such drug is estimated by the authors to be available, and 2050, when the number of Alzheimer's disease sufferers could reach its peak.

The study authors note that Alzheimer's disease threatens to become a pandemic and could potentially bankrupt the United States Healthcare system, without new diseases-modifying drugs. The U.S. disease prevalence is expected to grow from the estimated 5.1 million people living with the disease today, to more than 7.7 million by 2030, and 16 million by 2050, which is more than the current total population of New York City, Los Angeles, Chicago and Houston combined.

"These estimates give us the first true glimpse of the potential impact a drug like Myriad's Flurizan could have on the rapidly accelerating costs of treating Alzheimer's disease in this country," said Adrian Hobden, Ph.D., President of Myriad Pharmaceuticals, Inc. "This study calculates the dollar value of a year of life saved from Alzheimer's disease and provides a realistic measure against which payors might make coverage decisions for new therapeutics. The potential savings to the system of delaying the disease for just one year is tremendous."

The study, entitled "Alzheimer's Disease and Cost-Effective Analyses: Ensuring Good Value for Money?" was performed by John Vernon, Ph.D., Department of Finance, University of Connecticut, and National Bureau of Economic Research and colleagues at the University of Connecticut, as well Robert Goldberg, Ph.D., from The Center for Medicine in the Public Interest. The study was sponsored in part by ACT_AD, a coalition of 49 national organizations representing patients, caregivers, providers, consumers, older Americans, researchers and employers seeking to accelerate development of potential cures and treatments for Alzheimer's disease. The coalition is supported in part through educational grants from Wyeth Pharmaceuticals, Elan Corporation and Myriad Genetics, Inc.

Alzheimer's Disease Facts

--  5.1 million Americans currently have Alzheimer's disease
--  As a result of the aging U.S. population, the number of newly
    diagnosed cases of Alzheimer's disease is projected to double to 959,000
    cases per year between 2010 and 2050
--  By 2050, the number of Americans living with Alzheimer's disease is
    expected to more than triple to 16 million, without new therapies
--  Medicare costs alone for Alzheimer's disease will reach $160 billion
    by 2010
--  Families who hire in-home caregivers face annual costs of up to
    $200,000
    
Myriad Genetics, Inc. is a biopharmaceutical company focused on the development of novel healthcare products. The Company develops and markets predictive medicine products, and is developing and intends to market therapeutic products. Myriad's news and other information are available on the Company's Web site at www.myriad.com.

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include those related to the potential for the potential impact a drug like Myriad's Flurizan could have on the rapidly accelerating costs of treating Alzheimer's disease in this country. These risks and uncertainties include, but are not limited to, our inability to further identify, develop and achieve commercial success for new products and technologies; our ability to discover drugs that are safer and more efficacious than our competitors; our ability to develop molecular diagnostic products that help assess which patients are subject to greater risk of developing diseases and who would therefore benefit from new preventive therapies; the possibility of delays in the research and development necessary to select drug development candidates and delays in clinical trials; the risk that clinical trials may not result in marketable products; the risk that we may be unable to successfully finance and secure regulatory approval of and market our drug candidates, or that clinical trials will be completed on the timelines we have estimated; uncertainties about our ability to obtain new corporate collaborations and acquire new technologies on satisfactory terms, if at all; the development of competing products and services; our ability to protect our proprietary technologies; patent-infringement claims; risks of new, changing and competitive technologies and regulations in the United States and internationally; and other factors discussed under the heading "Risk Factors" contained in Item 1A in our Annual Report on Form 10-K for the year ended June 30, 2006, which has been filed with the Securities and Exchange Commission, as well as any updates to those risk factors filed from time to time in our Quarterly Reports on Form 10-Q or Current Reports on Form 8-K. All information in this press release is as of the date of the release, and Myriad undertakes no duty to update this information unless required by law.

Contact Information

  • Contact:
    William A. Hockett
    EVP, Communications
    (801) 584-3600
    Email: Email Contact