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(UPDATE: The Center for Medicare & Medicaid Services reportedly announced that it will reimburse Myriad $1,438 for each BRACAnalysis breast-cancer gene test. That is far lower than expected, says Piper Jaffray analyst William Quirk, and hurt the stock. But he says that was an error that should be clarified in a few days.) Myriad Genetics (MYGN) was sued by diagnostics company Invitae over its genetic testing patents Monday, sending Myriad stock tumbling 4.5% in morning trading on the stock market today, near 28.50. Invitae’s move was a counterattack after Myriad named Invitae as a defendant in its own lawsuit, which Invitae said last week it would vigorously contest. The lawsuits are continuing to work out the implications of last June’s Supreme Court decision Scalper1 News
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