Mind to Market

Thursday, February 07, 2008

Genomic Health’s Healthy Results

Genomic Health's year end revenues for 2007 had more than doubled over 2006 it reported last Tuesday. A good 98% of that revenue was from their Oncotype DX multi-gene assay that predicts the recurrence of breast cancer in newly diagnosed patients. Both payers and physicians appear to be adopting the technology; an early entrant in the personalized medicine arena.

Genomic Health claims that health plans covering greater than 70% of the population now reimburse for Oncotype DX. Since the test provides information on which patients will benefit from chemotherapy, payers can reduce the costs of unnecessary chemotherapy treatments through the use of Oncotype DX.

Regardless of the economic benefits of the test, patients that will not benefit from chemotherapy are spared the discomfort of that treatment. Personalized medicine technologies appear to have quantifiable benefits but that alone is not sufficient to predict how well they will do in the marketplace. With these numbers however, Genomic Health sounds more confident and predicts revenues to increase to between $100 and $110 million for 2008.

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