Myriad jumps after agreeing to sell prenatal health testing business
Tue 14:12
BUZZ-Myriad jumps after agreeing to sell prenatal health testing business ** 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)
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Myriad jumps after agreeing to sell prenatal health testing business
Brief: Myriad Genetics To Sell Prenatal Health Testing Business To Labcorp
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