Pacific Edge shares plunge on risk of revenue loss
But Pacific Edge's bad news wasn’t enough to drag the market down thanks to infrastructure group Infratil lifting the main index higher on the news of its US$300 million (NZ$476m) deal with a German insurer.
The S&P/NZX 50 Index rose 33.2 points, or 0.29%, to 11,525.87. Turnover was $89.6 million.
Pacific Edge told the NZX this morning that its cancer tests could be dropped by a major US health insurance company that is considering a new way to choose which tests are covered.
Medicare provider Novitas currently reimburses the use of Cxbladder – but won’t under a new process it has proposed.
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