BRCA Test Could Save Lives
While breast cancer has little relevance to the financial markets, the
importance of the matter, can never be undermined. Stunningly beautiful
Oscar-winning actress, film director and screenwriter - Angelina Jolie announced
on Tuesday, results from a BRCA test indicated she had an 87% chance of
contracting breast cancer. Faced with a high risk of contracting breast cancer,
Jolie concluded to undergo a double mastectomy, as a proactive, preventative
measure. She also opted for full breast reconstruction. Her actions have raised
awareness for cancer organizations and health care providers of not only the
double mastectomy procedure but also, education on paying for the procedure.
Statistics show nearly 1 in 8 U.S. women will develop invasive breast cancer,
during their lifetime. In 2011, there were more than 2.6 million breast cancer
survivors in the US. If a women has a mother, sister or daughter diagnosed with
breast cancer, that womans faces almost twice the chance of also being diagnosed
with breast cancer. Nearly 15% of women diagnosed with breast cancer have a
family member diagnosed with it as well. Nearly 10% of breast cancers are linked
to gene mutations - BRCA1 and BRCA2 the most common - inherited from a mother or
father. When these particular mutations are found in an individual, there is an
80% risk of developing breast cancer during their lifetime. President Obama’s
health-care overhaul includes a provision that calls for coverage of tests to
determine the risk in a patient for breast and ovarian cancer. The health-care
provider has to recommend the test - with cost average of $3000 - and would
likely only do so in cases where there is a family history. Average cost for a
double mastectomy and breast reconstruction can range from $20,000 to $100,000
depending on the procedure and location.
Myriad Genetics (MYGN) holds the patent on the test that determined Angelina
Jolie faced an 87% chance of developing breast cancer. Shares of Myriad were
higher by 3% into late afternoon trading on Tuesday, striking a new 52 week high
during the trading session.
U.S. Labor Department announced on Tuesday, prices paid for imported goods fell
0.5% in April, mainly because of lower oil costs. Excluding fuel, import prices
fell by 0.2% in April as fuel import prices fell by 1.7%. The price of U.S. made
goods exported to other nations, fell by 0.7%.
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May 14, 2013