More Companion Diagnostic Deals For Qiagen And Myriad
This article was originally published in The Gray Sheet
Qiagen’s agreement Tokai Pharmaceuticals targets circulating tumor cells, and Myriad Genetics has extended its partnership with BioMarin Pharmaceutical focused on Myriad's myChoice HRD companion diagnostic.
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Myriad is continuing its mission to expand its companion diagnostics reach by teaming up with Tesaro and Merck to evaluate their breast and ovarian cancer drugs, and expanding its partnership with Abbvie into lung cancer. .
The US companion diagnostics sector is predicted to grow from $1.6 billion to $6.2 billion between 2015 and 2021, a CAGR of 25.3%, outpacing the IVD market growth fivefold. This rapid growth will be driven by the development of new targeted pharmaceutical products and moves by the FDA to quickly approve new treatments and diagnostics together.
Myriad Genetics' BRCA1/2 gene testing service has been approved as a companion diagnostic to AstraZeneca's new ovarian cancer drug, an important step in the company's diversification plan and a significant milestone in FDA's oversight of laboratory-developed tests.