The Tastiest Taco's at the U.S. Open to a New Life Saving at Home Colon Cancer Test

Rebecca Jarvis reveals what you need to know this week on Real Biz 8.29.2014.
15:27 | 08/29/14

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Transcript for The Tastiest Taco's at the U.S. Open to a New Life Saving at Home Colon Cancer Test
Hello and welcome to -- as -- Rebecca Jarvis here in New York City and here's what's on our radar thousands of hungry. Fans are flocking to the US open this week. And we have a sneak peek at what they're serving up the big -- celebrity chef Richard -- anabolic in the house. With food from idea we can't wait plus look at a new test just approved by the FDA it's gonna let you take a colon cancer test at home. But first we're talking fall fashion Labor Day weekend is upon us it is nearly September and before you know -- -- are going to be turning brown yes -- is almost here. And it's time to get the sweaters well I went welcomes to ride to Robbie and Maxine -- who. Created this sustainable and time with clothing company is eighty and speaking of sweaters. You -- a big announcement coming up on sweaters we actually just announced yesterday. On our when -- anniversaries -- -- will be launching our online. Intent for the holidays and the first piece of the line will be a timeless essential sweater what -- -- -- -- Essential sweater well really exciting because it's made from the sheep. All the way to final production all in the US -- green -- and I'm really excited but makes it timeless says it's made with natural materials. That she becomes the -- and and that becomes a cozy beautiful sweater. And it's in a really great -- similar to what we see here -- neutral as everything really is gonna work together. So you're gonna wanna Wear it and feel cozy and don't really stylish and it. Not just for one season but for like. These are the clothes on -- -- right now -- -- some of the things that are available right now in your whole philosophy is. That timelessness the ability to know -- -- your clothing came from. And -- that it will last very very long time they've been -- Nadine means a grandfather in Yiddish and prosperity in Arabic and what we're trying to do is. Bring true transparency to products that we think at last a lifetime are all about timeless classics that -- stylish -- will be stylish and five years. And so what you see in front of you just a sampling of the men and women's apparel at least on the site that meets secretary one of the issues and and we talk a lot of real -- with people who are manufacturing things whether -- clothing. Or otherwise and one of the arguments you frequently hear is how difficult it is to manufacture something to get me here in the United States. Yet it's not easy where working with one of the last two remaining -- houses. In the entire country and I used to be -- being industry for us. But when you find those partners they're so excited and they're willing to work with -- even if you're not a massive company because they're excited about the growth for the future. I'm and what's really great about working in United States is there's a really wonderful regulatory environments he can feel good that. -- making product that's great for the environment and supporting local economy. And you know that the people who are making it hard leaving at least by the US laws which protect the worker. Treated fairly for their hard work we have minimum wage in this country and very few other countries do and so we -- we're proud to -- all our products in the US and proud to support. American me designers like the ones at least on our site you mention though there are just these two would die makers and the US says it is right now. How can -- -- when you're first coming up with this idea and I know how important it was to you to find it so I know you would have it no matter what. But for other companies were thinking about trying to do this and make it here in -- -- what's the process. It's a lot of research but you know what we found is we made a lot of calls I was definitely a part of it and we found -- firing -- In -- again and she was fantastic and she really helped us connect all the dots together. And that's what happens you develop this really positive community. And the result since the consumer wants this to consumers interested in a product that they can feel really great about. Com and being made in America is definitely something to be excited about. The rat the last February here on real -- is. You're selling out at LaGuardia Airport fabulous -- pop up chaplains are waiting to see another pop up sheppard's eighty we will certainly see more pop up -- -- -- in the near future we had a successful in the Hamptons this summer. One in Brooklyn a few months before that for us pop up experiences -- way to connect with our customers in the real world. Get to know them by their first names help them pick up products from our site. I think it's the story is that sell themselves once people recognize that they can -- beautiful stylish items that have. Names of makers behind them there all the more ready to believe something into treasured for a long time. Ceramic -- so glad to see you again best wishes and everything the sweaters are out this December. Yeah. The holidays perfect timing couldn't. Thank you so much have a great day picnic -- -- Well 35 million Americans are about to hit the road this Labor Day weekend and you're gonna find hundreds of thousands of them. At least the tennis fans among us getting in on the US open action is an event that is bigger and more -- -- Then the World Series even the Super Bowl. And with all eyes on fan favorites like Maria Sharapova and Roger Federer ever wants to know who's -- home that Tiffany company trip trophy this year. We'll last year Raphael Nadal took home the three million dollar prize but you're not -- -- -- -- the US open this year. Because of an injury. My favorite part of the competition however. Is taking place -- the court it is the food frenzy I went behind the scenes with night lining got a taste of all the delicious creations prepared by chefs. Like David Burke. -- motel the Iron Chef. And our next guest one of my favorite chef and -- -- Richard -- -- he is opened forty restaurants around the world. And used to be it tennis players so it's perfect to have him here with us is so nice to see -- thank you and you brought -- always a -- Of -- can't go wrong with pocket -- except those -- the -- it would -- to add -- -- that would preserve -- -- -- Russell serving at the US opens its and that's taste of -- no we do here but honestly you know for the gas and this is your first here at the USO and yes it's called many I have for anyone who's heading up the US open you -- -- -- my efforts chaser Richard sand up -- exactly. How big of a deal is it to be at a place like the US open. For it was amazing -- and I love tennis that was my first -- kind of came full circle for me and I didn't make as a player. And -- there's a -- it's an amazing opportunity. You have an incredible story started out in Mexico City you're now bringing those waivers to the world's -- your restaurants. How did you get your start in -- how did you make that first step as a businessman. You know I grew up for on the rest on this with my father and -- where he was a restaurant -- not a -- So -- really learned the business side from him and then when I came to new York and after graduating from the CIA. I'm moved here 1718. Years -- with a really small restaurant on the upper west side no -- with these new space because -- was nobody. So you know it's very hard to have finally got -- space -- upper west side you know after that it was just another domino effect kind of you just know build from that. You learn it probably from some mistakes well what would you say was the biggest mistake you've learned -- We -- we you know when you come to New York Renaissance the most competitive city in the world -- -- -- and I say if you make in New York -- -- -- anywhere else. It was just understanding how the press you know. When S -- would Mexican food -- -- some Mexican -- very you know fast casual very heavy so was challenging for me. To convince them that I was doing an upscale Mexican restaurant. And you actually charged fifty dollars you know not necessarily what they know -- -- ago so to explain to -- -- -- I was using the same ingredients that the best French Italians. The dissidents who lunch I was username at a sensitive time -- -- Elantra. -- truffles soldiers and we'd -- courtship so I think once understood and kind of compare apples to apples that made sense to them. So once we got on board -- we figured things out exam well is getting your world. Eight. But when you look at the environment these days. Starting restaurants a lot of people are going the food -- crap. Right what you think that if if you're getting your start today you you have all of that -- acknowledge right would you go that route. Absolutely and I think there's this to thinks -- and I think it's great it gives chefs an opportunity. Note to start a restaurant it without having that huge expansion of to a -- million dollars to open a restaurant in against of these young chefs -- -- coming. Two starting in an -- in the small food truck and then move on to larger bigger things. I mean do -- thing I might be a little uncomfortable with his you know they pull up to other restaurants. And Yasser restaurant tourism are paying always -- -- and everything just pull up next to you and it -- going -- -- I think it's a double its sword in hand but for -- -- I think it's it's a very great. Number opportunity for younger generation studios get started in the restaurant business. It isn't but it is it's an interesting conversation because you bring up the point. One of the reasons that the restaurant industry has been apprehensive about food trucks is that. You mentioned -- rents are high it's expensive to have one location if you're in that location in trying to survive and somebody pulls up out front. It is harder to -- and it's been in DC -- To open a restaurant called -- -- I'm in front of a part. And also in a seminary food -- a pull up in the park and its people -- in your standing here you know with a four million dollar investments ago. When it -- that's exotic -- Well it's fantastic to have you with us so much fun hanging with you -- UUS open best wishes you've got. You still have many days ahead and anybody who wants to -- it -- it's called many -- -- out -- the US open. Fantastic to have you with us Richardson of thanks for having his best wishes that everything -- be eating that CN. And if you are out at the US open as we said you wanna check -- many might well be disappointed. What we turn now to a topic that has touched so many of our lives and a major scientific breakthrough colon cancer is the fourth most common type of tumor. And was responsible for 51000. Deaths in the US last year the American Cancer Society. Recommends that beginning at age -- both men and women start getting screened but. So many about 13 of us they failed to do that enter a new act home test that was just approved by the FDA could help in early detection. And really changed the course of history. I want to bring in now as our next guest Kevin Conroy he is president and CEO and chairman of exact sciences so nice to have you with us -- thank you Rebecca so this is it. This is that. This is the acting on testing that we have just proof to yes. Accurate. You can do in the privacy of your own home we developed it with the Mayo Clinic that most advanced technology DNA detection technology goes into this. And it's really really a potentially life -- test and what is it what is it going to tell me. What is going to say is you if it's positive -- you need to go get a colonoscopy. And if it's negative you've been screened for cancer and talk to your doctor about the next time you need to be screened. One of the things that holds people back from going to get a colonoscopy in addition to just the idea of having to schedule that appointment and make it happen. Is -- in the basin as its. The fact that you have to do a lot. -- to actually get to the point of -- -- -- eat differently you have to drink differently in preparation for how does that work with -- yet so. -- -- it's a great test there eighty million people who should be strained. Only forty million -- -- you be getting a colonoscopy so that's forty million people marketing screen here your doctor orders a test. The test is delivered to your home by UPS. You provide a sample in the privacy of your own home you call UPS they come back and collect Kent and -- UPS man exactly. And they return. To our lab and the lab provides a patient report directly to your position so it's really -- and a very quick turnaround time of very quick turnaround time. So now that you have -- FDA approved some insurance providers are covering this Medicare is is covering it. What kind of priced -- the individual have to pay to do this test so we have proposed to Medicare that the test be priced at 502 dollars and we expect Medicare to make a decision quickly. The list price of the test is 599. Dollars and we expect that most insurers will cover this test. As part of the preventative care part of the Affordable Care Act tests that are included in certain guidelines. There's no out of pocket we expect eventually Coker will be one of those tests. And -- have been FDA approved at this point since FDA approval for for people who aren't as familiar with this whole process. -- -- approved two weeks ago it. What what happened to business since you were grouped well. We've had doctors and rolling very quickly so that they can order -- -- we have a 120 person sales force. Who's out educating physicians about this test. And positions sign up that the website -- guard test dot com or physicians and patients can go and learn. Everything they need to know about -- and how easy it is to use and. -- -- And and one of the one of the big questions for companies like yourself is the FDA approval process. And going through that process and you say yes like you kind of know where I'm going with this because it is an onerous process and there are a lot of people out there who argued that it shouldn't be so onerous that. There's a lot of medication and potential test that could make things a lot simpler less expensive that -- make it to market because of that process. Well I think the interesting thing here is that wasn't the case FDA the end Medicare worked with us and created a special program to take -- card. Through a parallel process of review. We ran at 101000 patient study and FDA and -- amounts have been great work -- And it's been great for your stock price yet it has been great for -- stock price so investors have been rewarded and it's a -- problem and a huge market. Again eighty million Americans. Who need to be regularly screened. Right now the amazing thing is we're spending fourteen billion dollars here in this country's 75% of that -- Medicare to treat colon cancer. If we spent that money upfront. Screening we can eradicate the disease and that is our goal. Fantastic and and one last question from a the stand when an exact sciences. What other types of things do you have in the pipeline right now what else what other groundbreaking things might we see from New Orleans. What we are working on with the same collection device to be able to collect the sample and attacked. The cancers above the cold in the pancreas and stomach in the esophagus which together account for -- 100000 deaths. Plus another 50000 deaths per year in the -- so. We think we can do this were working with the Mayo Clinic on it it may be may take some time but that's what we're intently focused well I think. Anybody out there who is hoping to see the eradication of these types of diseases is rooting for you and -- certainly like it I mentioned the stock it's up 81%. Here today. Thank you very much Rebecca thank you so much for joining us appreciate it. And think you for joining us for real -- we wanna hear from you. When he eating at the open or grilling up this Labor Day weekend twist your picks to reopen as with RJ and until next time have a great weekend enjoy your Labor Day -- safe. This is Rebecca Jarvis from New York.

This transcript has been automatically generated and may not be 100% accurate.

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