Myriad gains from Abbott testing deal

Myriad Genetics will perform genetic testing on breast cancer patients in an Abbott study.

Myriad Genetics announced a deal with Abbott Laboratories in which the Salt Lake City company will perform genetic testing on breast cancer patients in an Abbott study. Abbott wouldn't disclose which drug is being studied. The deal boosted Myriad's stock price 3.2 percent, and fueled talk that the company is ripe for a buyout. "Myriad's alignment with Abbott adds yet another pharmaceutical relationship and makes the company more of a potential takeout target," said Michael Yee, an RBC Capital Markets analyst.