Better Health for All

Myriad Genetics' core products, such as the GeneSight test, have demonstrated significant positive health impacts, including a 28% greater likelihood of depression remission

and a 39% relative reduction in psychiatric-related hospitalizations for MDD patients. The company's genetic tests provide personalized risk assessments for cancer and reproductive health. Myriad has invested over $150 million in R&D, technology, and labs. The company provided $49 million in financial assistance to over 86,000 uninsured or underinsured patients in 2022. For reproductive genetic screens, more than 80% of patients pay $0 out-of-pocket, and nearly 90% pay less than $100. However, patients with federally funded insurance (Medicare, Medicaid, TRICARE, Medicare Advantage) are ineligible for financial assistance due to regulatory limitations. Myriad offers clear cost estimates to patients and distinguishes between Explanation of Benefits (EOB) and bills. The company supports a genetic counseling program at Xavier University of Louisiana. Myriad's Precise Treatment Registry is a secure database to advance equitable care and collaborative research. The GeneSight test covers over 60 medications for mental health conditions. The company partners with jscreen to expand access to genetic testing for hereditary cancer and reproductive risks, targeting hundreds of thousands of high-risk adults.

Fair Money & Economic Opportunity

Myriad Genetics, Inc. is a molecular diagnostic company that develops and markets genetic tests. Its core business does not involve lending, insuring, moving, or storing money, nor does it offer consumer credit products or financial services.

While the company provides financial assistance for its genetic testing services to uninsured and underinsured patients, this is distinct from the financial services context of the 'Fair Money & Economic Opportunity' value. Therefore, all KPIs related to financial services, such as underserved client share, pricing fairness, exploitative fee exposure, inclusion initiatives, data accessibility for financial data, fair lending compliance, wealth building outcomes, profit reinvestment in community finance, financial literacy initiatives, debt burden ratio, geographic inclusion for banking services, and product simplicity for financial products, are not applicable to the company's operations.

Fair Trade & Ethical Sourcing

No specific, quantitative evidence was found across the provided articles for any of the KPIs related to Fair Trade & Ethical Sourcing for Myriad Genetics, Inc. While articles mention the company's expectations for suppliers to conduct business ethically, adhere to a Supplier Code of Conduct, and prohibit child labor or human trafficking, these are policy statements or expectations rather than concrete, measurable data points on certification, audit frequency, incident counts, traceability, remediation speed, contract coverage percentages, or supplier diversity spend.

Information explicitly attributed to 'Revvity' was not applied to Myriad Genetics as no explicit link or company-wide scope was stated.

Honest & Fair Business

The company has a formal whistleblower protection policy, including a hotline and procedures for confidential, anonymous submissions by employees.

However, there is no evidence of independent investigation processes or program effectiveness metrics. Audit Committee members must be independent as defined by SEC Rule 10A-3(b)(1) and NASDAQ listing standards, with non-independent members limited to two-year terms and unable to chair the committee. A Code of Conduct outlines an anti-corruption and anti-bribery policy, including prohibitions on bribery and facilitation payments, and mentions oversight of compliance with laws and regulations. However, there is no information on the frequency or effectiveness metrics of anti-corruption training. The Audit Committee charter details the responsibilities of the independent auditor, including reviewing financial statements and internal controls, and mentions reviewing regulatory agency examinations and auditor observations, but does not specify the percentage of ethical claims or operations verified by third parties.

Kind to Animals

Revvity, the parent company, has adopted an Animal Welfare Policy and a Bioethics Policy.

It leverages high-content screening solutions and 3D cell culture models alongside in vivo imaging systems to maximize information gathered per animal, thereby reducing the total number of animal test subjects. Revvity supports the National Centre for the Replacement, Refinement and Reduction of Animals in Research.

Planet-Friendly Business

In 2022, Myriad Genetics sourced 19.3% of its operational energy consumption from renewables.

The company reported a 62.4% waste recycling rate in 2022. Myriad Genetics has set a target to achieve carbon neutrality by 2030.

Safe & Smart Tech

In May 2016, the ACLU filed a complaint with the Department of Health and Human Services (HHS) against Myriad Genetics, alleging the company refused to provide patients with their full genetic records, including benign variants, as required by HIPAA.

Myriad subsequently provided the withheld data to the four patients involved but stated it was doing so "voluntarily" and did not rescind its position that the information was not part of the "designated record set." This indicates that while Myriad's HIPAA Notice of Privacy Practices (last updated September 28, 2023) outlines various patient rights, the company has historically presented obstacles to patients exercising these rights, reflecting basic data control options with significant limitations. The ACLU's complaint and Myriad's initial refusal to comply with HIPAA requirements also point to a reactive approach to regulatory compliance. Furthermore, Myriad's actions, including its 2004 decision to stop contributing data to public repositories and its 15-year patent exclusivity on BRCA genes, demonstrate a stance that has been in opposition to patient data access and digital rights, leading to advocacy efforts by organizations like the ACLU.

Zero Waste & Sustainable Products

Myriad Genetics has implemented several waste reduction initiatives. The company has an ongoing recycling program that has diverted approximately 102 tons of plastic from its Salt Lake City laboratories since 2019, with 31.4 tons recycled in 2022.

Additionally, new facilities are designed with features aimed at reducing waste volume and lowering plastic use, and the company has a 'Green Team' focused on environmental efforts. The company is also working on 'Labs of the Future' to further reduce its environmental footprint.