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Precision Medicine Plan 'Golden Opportunity' For Device, Diagnostic Firms

A new proposed framework to realize President Obama's Precision Medicine Initiative has significant potential for device and diagnostic companies, according to NIH Director Francis Collins. He says it will give them a "competitive opportunity" to develop cheaper whole genome sequencing tests and open the door to other exciting technologies.

The director of the National Institutes of Health has agreed to follow the recommendations in a working group report that lays out a framework on how to get President Obama's Precision Medicine Initiative off the ground. The report outlines how to create the Precision Medicine Initiative Cohort Program, which he notes has commercial potential for device and diagnostic companies.

Under the initiative announced by the president in his January State of the Union address, a million-plus Americans would be part of a massive research effort to document longitudinal biomedical...

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• By Natasha Barrow

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• By Brian Bossetta

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