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The Angelina Jolie Connection: The Debate Over Patenting Human Gene

Filed under: Family Finances, Health, Investing

Minyanville

This week, Angelina Jolie published an op-ed in the New York Time entitled "My Medical Choice," in which she explained her decision to undergo a preventive double mastectomy, having her breasts removed and replaced with implants over the course of three months of medical procedures. Jolie's mother had died of breast cancer at the age of 56, and she knew she had inherited the same risk: an 87% chance of developing breast cancer and a 50% risk of developing ovarian cancer. Her procedure reduced the risk of breast cancer to under 5%.

How did she know she was at risk? Jolie had been tested for the "faulty" gene BRCA1 and the test came back positive. By whom was she tested? The molecular diagnostic company Myriad Genetics (NASDAQ:MYGN). How do I know this? Because Myriad owns a patent for the BRCA1 gene (as well as the BRCA2 gene), and therefore, has exclusive rights to test for it (though the patents expire in about two years). Because of the patent and its protection of exclusivity, the company charges over $3,000 for the test.

Not surprisingly, Myriad's stock price saw a 4% increase yesterday. Jolie was drawing attention to breast cancer prevention and to this new and powerful tool that only one company holds the rights to. But in her op-ed, she writes, "It has got to be a priority to ensure that more woman can access gene testing and lifesaving, preventative treatment, whatever their means and background, wherever they live." If more companies are able to offer the test, then of course the price will go down, but only an invalidation of the patent law will allow other companies to offer the test. So continues the debate over whether companies should be able to patent human genes.

The following is a story I wrote in March about this debate: The Case of Myriad Genetics: Should Companies Own Patents on Human Genes?

For 30 years, companies have been patenting human genes. Yes, the very genetic material of our bodies, of our DNA, albeit in isolated forms. For longer than that, debates have been incessant -- in the scientific community, between businesses, and in the courts -- over whether or not this practice is legal, let alone ethical. Earlier this month, an Australian court heard yet another case about the legality of gene patenting, ultimately defending the practice. This spring, media attention over the controversy will shift back to the US as a similar case (originally heard in the US District Court for the Southern District of New York) will be heard by the Supreme Court.

From the Red Carpet to the Water Cooler: Your Style at Work

Filed under: Celebs & Money, Budgeting & Planning, Employment & Careers, Economizer, Saving, Sex Sells , Shopping, Weird & Wonderful

You are what you wear, the old saying goes. While, of course, that's not exactly true, how you dress conveys an important message about yourself. That message is particularly important at work where not it's not just your memos and your bright ideas that are being judged. With the Grammy's behind us and the Oscar's almost here (February 26th), it's a perfect opportunity to appreciate the important role style plays in conveying one's brand. As hard as it may be to believe, the red carpet is actually the celebrity's workplace and they don't spend tens of thousands of dollars on stylists and designers for nothing. Here are some celebrity examples of how style can reinforce one's personal and professional brand.

To view the gallery, click on the pictures below. Story continues below.



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Lady Gaga -- Confident
You know you're great -- maybe even better than all of your colleagues combined. Take some cues from Lady Gaga and you'll be booking squash courts with the boss in no time (where you'll crush her or him). Always daring, at the Grammy's Lady Gaga wore a custom Chanel ensemble, her face covered in fishnet. Although not many jobs call for fishnet, you could add some splash to your wardrobe by donning tights with interesting detail or a bright hooded scarf for on your way to work which at the office could then be worn around your neck. Don't go too far though lest you be known as the office weirdo.
Where to get the look for less: Betsey Johnson often has great deals (check the sales rack) on unique pieces you could get away with at the office. Also, the sales racks at Holt Renfrew are full of shirts, skirts and scarves only a diva could wear. (Be sure it fits in with your office "code" though and isn't something you'll only wear in the change room).
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