REDWOOD CITY, Calif., Jan 13, 2006 /PRNewswire-FirstCall via COMTEX News Network/ -- Genomic Health, Inc. (Nasdaq: GHDX) today announced that the National Heritage Insurance Company (NHIC), the contractor that administers Medicare programs in California, has established a positive coverage policy for the company's Oncotype DX(TM) breast cancer test, which quantifies the likelihood of breast cancer recurrence and predicts the likelihood of response to chemotherapy for a large portion of early-stage breast cancer patients. Medicare bills for Oncotype DX are currently billed through NHIC because the test is conducted by Genomic Health in its Redwood City, California clinical reference laboratory.
The policy covers women with node-negative breast cancer who have tumors that are estrogen receptor-positive, when Oncotype DX is used within six months of diagnosis and the intention to treat or not treat with adjuvant chemotherapy would be contingent, at least in part, on the results of the test. The NHIC decision was posted on the Centers for Medicare and Medicaid Services (CMS) website on January 12, and the coverage is scheduled to become effective for claims for services performed on or after February 27, 2006. The decision is posted at www.medicarenhic.com/cal_prov/updates.shtml.
"This decision will provide many more women access to this important tool when faced with a difficult treatment decision, including whether or not to undergo chemotherapy," said Kim Popovits, President and Chief Operating Officer of Genomic Health, Inc.
About Oncotype DX
Oncotype DX represents the first diagnostic multi-gene expression test commercially available that has clinical evidence validating its ability to predict the likelihood of cancer recurrence, the likelihood of patient survival within 10 years of diagnosis and the likelihood of chemotherapy benefit. The test has been extensively evaluated in multiple independent studies involving more than 2,600 breast cancer patients, including a large validation study published in The New England Journal of Medicine. For more information about Oncotype DX, please visit www.oncotypedx.com.
About Genomic Health
Genomic Health, Inc. is a life science company focused on the development and commercialization of genomic-based clinical diagnostic tests for cancer that allow physicians and patients to make individualized treatment decisions. In 2004, Genomic Health launched its first test, Oncotype DX(TM), which has been shown to predict the likelihood of breast cancer recurrence and chemotherapy benefit in early stage breast cancer patients. The company was founded in 2000 and is located in Redwood City, California. For more information, please visit www.genomichealth.com.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the increased access to Oncotype DX as a result of NHIC's coverage decision and the scheduled effective date of coverage. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties include the risk that NHIC's decision may change or not become effective as announced, and other risks as are set forth in our Quarterly Statement on Form 10-Q for the quarter ended September 30, 2005, which is on file with the Securities and Exchange Commission and is available on the SEC's website at www.sec.gov. These forward-looking statements speak only as of the date hereof. We disclaim any obligation to update these forward-looking statements.
NOTE: The Genomic Health logo, Oncotype, Oncotype DX and Recurrence 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.
investors, Brad Cole, +1-650-569-2281, or media, Emily Faucette, +1-415-946-1066, both of Genomic Health, Inc.
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