Would you pay $4000 for something that is only should cost $99? Apparently women who get a BRCA test pay nearly $4000 for something that should cost around $99. This because of the monopoly Myriad Therapeutics has by patenting the genes. I know I have logged about this before so may you call me redundant.
We are still waiting for the Supreme Court's response to the argument that gene's can't be patented. But Myriad is so sure that there will not be a problem for them, they are planning further profits later this year.
"Without competition, Myriad can effectively charge whatever it wants.
Later this year, the company said it would begin incorporating the BRCA
test into a 25-gene cancer-risk evaluation and phase out the à la carte
BRCA test by 2015. For that broader test, it projects a gross profit
margin of 87 percent."
I wouldn't mind an 87% profit on my investments. Would you? I'm just awaiting the Supreme Court''s response.