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What: Myriad Genetics
So what: Myriad Genetics makes a test that shows whether a group of experimental new medicines can help patients with a difficult-to-treat form of breast cancer. Unfortunately for Myriad, sanofi-aventis'
Now what: Investing in biotech companies can be extremely risky, and Myriad Genetics' sad story today underlines that fact. Although other companies are trying to develop these drugs, these recent developments don't bode well for Myriad, since its test has no usefulness if the experimental drugs don't help breast cancer patients live longer. Taking a stake in Myriad now sounds awfully risky.
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