Myriad Genetics Faces Cost Restructuring As UnitedHealthcare Ends GeneSight Coverage, Appoints New CEO
UnitedHealthcare ends coverage for MYGN GeneSight test effective H1 2025. Coverage loss may reduce revenue. 2024 GeneSight testing generated $45M, with commercial plans providing $40M and Medicaid $5M. This revenue loss poses a notable risk. Q4 adjusted EPS dropped to 3 cents and fourth-quarter sales slightly missed consensus. Earnings miss raises concerns. MYGN reaffirms 2025 EPS guidance and appoints a new CEO. Leadership change adds uncertainty to long‐term strategy.
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