Myriad Genetics Announces Reorganization Of European Operations And Sale Of EndoPredict Business; No Financial Terms Disclosed, Deal Is Subject To Customary Closing Conditions, Expects The Transaction To Close In Q2 Or Q3 Of 2024.
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Myriad Genetics, Inc. (NASDAQ:MYGN) announced the reorganization of its European operations and the sale of its EndoPredict business to Eurobio Scientific, aiming to align resources more closely with domestic opportunities while maintaining service to international partners and patients. The deal, expected to close in Q2 or Q3 of 2024, includes licensing Eurobio the right to sell Prolaris in vitro diagnostic kits outside the U.S., while Myriad retains the right to produce and sell EndoPredict in the U.S. as part of its Precise Oncology Solutions suite.

May 07, 2024 | 1:07 pm
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Myriad Genetics announces the sale of its EndoPredict business to Eurobio Scientific and reorganization of its European operations, aiming to focus on domestic growth and precision medicine.
The sale of the EndoPredict business and the reorganization of European operations are strategic moves by Myriad Genetics to optimize its focus on domestic opportunities and precision medicine, potentially leading to improved profitability and growth. This strategic shift is likely to be viewed positively by investors, as it indicates a focused approach to leveraging core strengths and areas of growth, especially in the U.S. market. The licensing agreement with Eurobio also opens up revenue streams without the direct operational costs associated with European sales, further indicating a potential positive impact on profitability.
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