Genetic Technologies gets tough
Monday, 14 July, 2008
Genetic Technologies (ASX: GTG) will enforce its exclusive rights to perform diagnostic testing of the BRCA1 and BRCA2 breast cancer genes in Australia and New Zealand.
The company has been paying ongoing licence fees to Myriad Genetics for exclusive rights to perform diagnostic testing but has been allowing other service providers to perform BRCA testing for the last five years.
Genetic Technologies said in a statement it was now enforcing those exclusive rights, preventing several laboratories throughout the country from performing the test.
It said it had invested several million dollars in a high-throughput molecular diagnostic laboratory and had reduced turnaround time to four weeks.
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