10/22/2013 7:25:51 AM
BioReference Laboratories, Inc. Sued by Myriad Genetics, Confident in Its Position
ELMWOOD PARK, N.J., Oct. 22, 2013 (GLOBE NEWSWIRE) -- BioReference Laboratories, Inc. (BRLI) announces that Myriad Genetics has filed a lawsuit against it in the Federal District Court in Utah alleging that BioReference, through its genetic sequencing laboratory, GeneDx, Inc, is infringing on its intellectual property by offering OncoGeneDx, its comprehensive series of inherited cancers testing, including testing for BRCA1/2. BioReference indicated that it is not surprised by the action and that it is confident in its position.
BioReference has engaged the firm of Sterne, Kessler, Goldstein & Fox to represent it in the action. The firm has represented the Company for many years and has a superior reputation in the field of intellectual property, especially in the area of genetic sequencing. BioReference stated that the test was introduced in August of the current year, after careful consideration in view of the Supreme Court's recent decisions in the field of genetic diagnostics. Its team of geneticists and sequencing scientists have developed several panels of tests for inherited cancers that will be valuable tools in the management of cancer. As always for BioReference, the tests will be based on innovative technology, will be affordable, and will be designed to provide the service and support that has enabled BioReference to maintain its sustained growth for the past two decades.
Myriad Genetics has taken similar steps to defend its exclusivity for BRCA1/2 testing by suing other laboratories that offer BRCA1/2 testing. The latest action against BioReference is not unexpected and the Company is fully prepared to defend against the action. BioReference is confident in its legal position and its belief that patients are better served in this evolving area of medicine by having choices and better access to alternative testing sources.
About BioReference Laboratories, Inc.
BRLI is a clinical testing laboratory offering testing, information and related services to physician offices, clinics, hospitals, employers and governmental units. We believe that we are the fourth largest full-service laboratory in the United States and the largest independent regional laboratory in the Northeastern market. BRLI offers a comprehensive list of laboratory testing services utilized by healthcare providers in the detection, diagnosis, evaluation, monitoring and treatment of diseases. BRLI primarily focuses on esoteric testing, molecular diagnostics, anatomical pathology, women's health and correctional health care.
Statements included in this release that are not historical in nature, are intended to be, and are hereby identified as "forward-looking statements". Forward-looking statements may be identified by words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," "will" or words of similar meaning and include, but are not limited to, statements about the expected future business and financial performance of Bio-Reference Laboratories, Inc. and its subsidiaries. Statements looking forward in time are included in this release pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are made and which reflect management's current estimates, projections, expectations or beliefs and which involve risks and uncertainties that could cause actual results and outcomes to be materially different. Risks and uncertainties that may affect the future results of the company include, but are not limited to, adverse results from pending or future government investigations, our ability to sustain continued growth, lawsuits or private actions, including any potential action involving Horizon as described herein, the competitive environment, changes in government regulations, changing relationships with customers, payers, suppliers and strategic partners, including recent proposals by CMS described herein, and other and other risks and uncertainties detailed from time to time in our filings with the Securities and Exchange Commission. We undertake no obligation to publicly update or review any forward-looking information, whether as a result of new information, future developments or otherwise.
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