SALT LAKE CITY, Jul 8, 2010 (GlobeNewswire via COMTEX News Network) -- Myriad Genetics, Inc. (Nasdaq:MYGN) announced today that Gary A. King has joined the Company in the newly created position of Executive Vice President of International Operations.
"It is with a great deal of pleasure that I welcome Gary to the Myriad team," said Peter D. Meldrum, President and Chief Executive Officer. "Gary is a talented and seasoned executive, whose strong international experience in the healthcare industry will serve Myriad well as we advance our goal of building a significant presence in Europe by the end of 2012."
Mr. King, 54, will oversee all aspects of the Company's expansion into Europe and other international markets, including operations, sales and marketing, regulatory approval, and pricing and reimbursement. He will refine and execute the Company's international strategy on a country-by-country basis, initially focusing on the major market countries of Germany, France, Italy, Spain, and the United Kingdom. Mr. King will also initiate marketing plans in Europe for the Company's eight molecular diagnostic products.
Mr. King has been employed in the life sciences industry for more than 25 years. Most recently he was the Chief Executive Officer of AverDx Incorporated, an international biotechnology company that develops novel biomarker diagnostics for critical diseases. Prior to AverDx, he was Vice President, International Operations at Biosite Incorporated, a developer of diagnostic products and antibody development technologies where he spent six years building and leading all of the company's commercial activities outside the United States. He established marketing and logistics operations in Germany, France, Italy, the United Kingdom, Netherlands, and Belgium, and he established clinical operations and marketing programs in Asia. Prior to joining Biosite, Mr. King was Division Director in Japan for Guidant Corporation and led Guidant's transition from distributor to direct operations in the Japanese market. Mr. King received his Bachelor of Arts degree in Zoology from Pomona College and a Masters of Business Administration degree from Stanford University.
About Myriad Genetics
Myriad Genetics, Inc. is a leading molecular diagnostic company focused on developing and marketing novel predictive medicine, personalized medicine and prognostic medicine products. Myriad's news and other information are available on the Company's Web site at www.myriad.com.
Myriad, the Myriad logo, BRACAnalysis, Colaris, Colaris AP, Melaris, TheraGuide, Prezeon, OnDose, and Prolaris are trademarks or registered trademarks of Myriad Genetics, Inc. in the United States and foreign countries.
The Myriad Genetics, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6336
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the advancement of Myriad's goal of building a significant presence in Europe by the end of 2012; the Company's expansion into Europe and other international markets; the refinement and execution of the Company's international strategy and the initial focus on the major market countries of Germany, France, Italy, Spain and the United Kingdom; the scope of Mr. King's duties and responsibilities; and the initiation of marketing plans in Europe for the Company's eight molecular diagnostic products. These "forward-looking statements" are based on management's current expectations of future events and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by forward-looking statements. These risks and uncertainties include, but are not limited to: the risk that sales and profit margins of our existing molecular diagnostic products may decline or will not continue to increase at historical rates; the risk that we may be unable to develop or achieve commercial success for additional molecular diagnostic products in a timely manner, or at all; the risk that licenses to the technology underlying our molecular diagnostic products and any future products are terminated or cannot be maintained on satisfactory terms; risks related to delays or other problems with manufacturing our products or operating our laboratory testing facilities; risks related to public concern over our products; risks related to regulatory requirements or enforcement in the United States and foreign countries and changes in the structure of healthcare payment systems; uncertainties about our ability to obtain new corporate collaborations and acquire new technologies on satisfactory terms, if at all; the development of competing products and services; the risk that we or our licensors may be unable to protect the proprietary technologies underlying our products; the risk of patent-infringement claims or challenges of our patents; risks of new, changing and competitive technologies and regulations in the United States and internationally; and other factors discussed under the heading "Risk Factors" contained in Item 1A in our Annual Report on Form 10-K for the year ended June 30, 2009, which has been filed with the Securities and Exchange Commission, as well as any updates to those risk factors filed from time to time in our Quarterly Reports on Form 10-Q or Current Reports on Form 8-K. All information in this press release is as of the date of the release, and Myriad undertakes no duty to update this information unless required by law.
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SOURCE: Myriad Genetics, Inc.
CONTACT: Myriad Genetics, Inc. Suzanne Barton, Director, Investor Relations (801) 584-1138 firstname.lastname@example.org
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