Join        Login             Stock Quote

Rosetta Genomics Achieves Major Commercial Milestone by Obtaining Medicare Coverage of miRview mets2 Assay

Wednesday, May 16, 2012 8:30 AM


PHILADELPHIA, PA and REHOVOT, ISRAEL -- (Marketwire) -- 05/16/12 -- Rosetta Genomics Ltd. (NASDAQ: ROSG), a leading developer and provider of microRNA-based molecular diagnostic tests, today announced that Novitas, the designated Medicare Administrative Contractor for the Company's miRview® mets² assay, has informed Rosetta that it plans to cover this assay for all Medicare beneficiaries. MiRview® mets² accurately identifies the primary tumor of origin in primary and metastatic cancer including Cancer of Unknown or Uncertain Primary ("CUP").

"This is a major commercial achievement for Rosetta Genomics as Medicare coverage is a critical step toward widespread commercial adoption and payment for our lead diagnostic assay, miRview® mets², and enables access to this clinically valuable test to Medicare patients. This decision is important not only because Medicare is the largest U.S. payor, covering a large percentage of the patients for whom miRview® mets² has been ordered historically and would be expected to be ordered in the future, but also because private payors often look to Medicare's decisions when setting their own reimbursement policies," noted Kenneth A. Berlin, President and Chief Executive Officer of Rosetta Genomics. "We are particularly pleased with how rapidly we obtained Medicare coverage, as we launched our direct selling effort in the U.S. just one year ago.

"The decision by Novitas to cover the miRview® mets² assay reflects the clinical importance of determining the tumor origin in hard-to-diagnose metastatic cancers and CUP. This is particularly important as new, targeted cancer treatments are developed for site-specific cancers. We believe that the miRview® mets² assay is an important tool that can improve the ability of physicians to accurately diagnose CUP in order to optimize treatment plans," added Mr. Berlin.

The policy will cover the 45 million Medicare beneficiaries and will enable Rosetta to provide the miRview® mets2 assay for Medicare beneficiaries throughout the U.S. at no cost to the patient, thereby eliminating an adoption barrier for the physician ordering the test and for the patient.


Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.