GTG responds to BRCA row
Thursday, 24 July, 2008
Genetic Technologies (ASX: GTG) today rejected widespread criticism over its plans to enforce its exclusive IP rights to breast cancer genetic testing.
The company has exclusive rights to the diagnostic tests, for women with hereditary mutations in the BRCA1 and BRCA2 genes, which predispose carriers to breast and ovarian cancer, licensed from Myriad Genetics.
The company said in a statement that the suggestion it will substantially increase prices was "speculative and unfounded". Genetic Technologies was not contemplating any major change to its pricing practices, it said.
Cancer Council Australia CEO Ian Olver told The Australian newspaper last week that the opposite had happened in Canada, where another company enforced its exclusive rights.
Genetic Technologies also rejected claims that the decision would restrict scientists from conducting research into breast cancer. The company said its diagnostics service was unrelated to public sector research.
"Our earlier decision not to enforce our patent rights has been at a considerable cost to us over the last five years," CEO Michael Ohanessian said. "The beneficiaries have been laboratories that have been shielded from paying any licence fees for use of the patents.
"Genetic Technologies on the other hand continues to carry the financial commitment for its exclusive rights to the patents.
"Given that we now offer an excellent service, we believe it is time to revisit that arrangement."
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