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Stock impact report

Illumina's Grail expands use of cancer detection test with life insurer deal [Reuters]

Manulife Financial Corporation (MFC) 
Last manulife financial corporation earnings: 2/12 05:00 pm Check Earnings Report
US:NYSE Investor Relations: manulife.com/investor-relations
Company Research Source: Reuters
would expand use of its flagship Galleri cancer diagnostic test through a new agreement with life insurer John Hancock, a division of Manulife Financial . The test, designed to detect more than 50 types of cancer before symptoms appear, looks at the DNA in a patient's blood to determine if any come from cancer cells. Data have shown that, across the 50 cancer types, including early-stage to late-stage, the Galleri test correctly identified the presence of cancer in 51.5% of cases. Grail is selling the test, which must be prescribed by a doctor, for $949 in the United States, as a “laboratory developed test,” a category of diagnostics that the Food and Drug Administration historically has not regulated. Grail, however, is in the process of seeking FDA approval. Insurers generally pay for such tests only when there is regulatory approval. Grail President Joshua Ofman told Reuters that the company's FDA submission, including data from an ongoing UK trial, will probably take “a coup Show less Read more
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