Posted on September 22nd, 2014 by
REDWOOD CITY, Calif., Sept. 12, 2014 /PRNewswire/ – Genomic Health, Inc. (Nasdaq: GHDX) today announced that PharmacoEconomics published positive results from a health economic analysis suggesting that use of the Oncotype® DX colon cancer test may result in a significant reduction in direct medical costs and improve patient quality of life by helping them avoid side effects of unnecessary treatment.
“By providing quantitative information which has not been available with conventional measures, as demonstrated in this analysis, the Oncotype DX colon cancer test is likely to lead to both savings in direct medical costs and improved patient well-being,” said Steven Alberts, M.D., chair, division of Medical Oncology at the Mayo Clinic, Rochester, Minn.
The analysis of 141 patients from 17 sites in the Mayo Clinic Cancer Research Consortium demonstrated the value of using the Oncotype DX test to identify stage II colon cancer patients with low risk of recurrence, who may consider forgoing a chemotherapy regimen. After physicians received the Recurrence Score results, their recommendations for adjuvant chemotherapy in patients with low risk of recurrence decreased by 22 percent, which resulted in direct medical care cost savings of approximately $1,000 per patient. This is the first health economic study of the Oncotype DX colon cancer test conducted in clinical practice. A previous, separate modeling study showing that the use of the Oncotype DX test in stage II colon cancer patients may lead to health care cost savings while improving clinical outcomes was published in 2012 by Value of Health.
“This publication highlights the important role of the Oncotype DX colon cancer test in delivering personalized medicine to the modern paradigm for cancer care,” said George Kim, M.D., gastrointestinal oncologist, 21st Century Oncology, Jacksonville, Fla. “By enabling a more individualized approach to my patients’ treatment, the test not only saves health care dollars but also improves their well-being and can prevent individual non-direct costs associated with potentially unnecessary treatment, related time away from work and increased household care needs. This trial is an important landmark highlighting the advantages of individualized care in terms of treatment benefit, toxicity and cost.”
About Genomic Health
Genomic Health, Inc. (NASDAQ: GHDX) is the world’s leading provider of genomic-based diagnostic tests that address both the overtreatment and optimal treatment of early stage cancer, one of the greatest issues in healthcare today. The company is applying its world-class scientific and commercial expertise and infrastructure to lead the translation of massive amounts of genomic data into clinically-actionable results for treatment planning throughout the cancer patient’s journey, from screening and surveillance, through diagnosis, treatment selection and monitoring. Genomic Health’s lead product, the Oncotype DX® breast cancer test, has been shown to predict the likelihood of chemotherapy benefit as well as recurrence in invasive breast cancer and has been shown to predict the likelihood of recurrence in ductal carcinoma in situ (DCIS). In addition to this widely adopted test, Genomic Health provides the Oncotype DX colon cancer test, the first multi-gene expression test developed for the assessment of risk of recurrence in patients with stage II and stage III disease, and the Oncotype DX prostate cancer test, which predicts disease aggressiveness in men with low risk disease. As of June 30, 2014, more than 19,000 physicians in over 70 countries had ordered more than 465,000 Oncotype DX tests. The company is based in Redwood City, California with European headquarters in Geneva, Switzerland. For more information, please visit,http://www.GenomicHealth.com and follow the company on Twitter: @GenomicHealth. To learn more about OncotypeDX tests, visit: http://www.OncotypeDX.com,http://www.mybreastcancertreatment.org and http://www.myprostatecancertreatment.org.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the benefits and attributes of the test, including the belief that use of the test may result in a significant reduction in direct and indirect medical costs and improve patient quality of life and well-being, and the belief that the test may help patients avoid potentially unnecessary treatment and side effects of unnecessary treatment; the attributes and focus of the company’s product pipeline; the applicability of clinical study results to actual outcomes; the ability of any potential tests the company may develop to optimize cancer treatment; and the ability of the company to develop and commercialize additional tests in the future. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially, and reported results should not be considered as an indication of future performance. These risks and uncertainties include, but are not limited to: the risks and uncertainties associated with the regulation of the company’s tests; the results of clinical studies; the applicability of clinical study results to actual outcomes; our ability to develop and commercialize new tests and expand into new markets domestically and internationally; the risk that the company may not obtain or maintain sufficient levels of reimbursement, domestically or abroad, for its existing tests and any future tests it may develop; the risks of competition; unanticipated costs or delays in research and development efforts; the company’s ability to obtain capital when needed and the other risks set forth in the company’s filings with the Securities and Exchange Commission, including the risks set forth in the company’s quarterly report on Form 10-Q for the quarter ended June 30, 2014. These forward-looking statements speak only as of the date hereof. Genomic Health disclaims any obligation to update these forward-looking statements.
NOTE: The Genomic Health logo, Oncotype, Oncotype DX, Recurrence Score, and DCIS Score are trademarks or registered trademarks of Genomic Health, Inc. All other trademarks and service marks are the property of their respective owners.
SOURCE Genomic Health, Inc.
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