On October 31, 2024, it was revealed that UnitedHealth Group ("UnitedHealth") would no longer cover GeneSight, Myriad's genetic test to help determine which mental health medications are likely to work with an individual patient, beginning January 1, 2025. Specifically, market analysts reported that a document from UnitedHealth stated that the coverage is ending as tests for behavioral health, which includes GeneSight, are "unproven" and "not medically necessary."
Following this news, Myriad's stock price fell over 18% on November 1, 2024.
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