Myriad jumps after agreeing to sell prenatal health testing business

Labcorp Holdings

Tue 14:12

** Shares of genetic testing company Myriad Genetics MYGN.O rise 20.7% to $5.05 premarket
** Co says it will sell its prenatal health testing business to Labcorp LH.N for $210 million in cash, plus the value of the inventory
** MYGN says the transaction is expected to be accretive to Myriad's revenue growth and profitability, while strengthening the balance sheet
** Labcorp expects the deal to add about $160 million in revenue in year one
** Myriad's prenatal portfolio features several genetic screening products designed for pregnancy and reproductive health
** MYGN stock down 31% YTD, as of last close

 (Reporting by Christy Santhosh)
 ((Christy.Santhosh@thomsonreuters.com))