US Government Opposes Proposed Illumina/Grail Merger
Illumina announced plans to acquire Grail for about $8bn in September 2020, but the US FTC says the proposed acquisition will diminish innovation in the US market for multi-cancer testing.
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Illumina announced today it will buy back Grail to allow faster adoption of its liquid biopsy test.
Grail hopes to launch its Galleri test in 2021 as a laboratory developed test and submit a PMA to the US FDA in 2023.
Illumina had planned to acquire Pacific Biosciences to add the company's “long-read” gene sequencing systems to Illumina's own range of "short-read" technologies. However, the UK’s Competition and Markets Authority and the US Federal Trade Commission concluded that the deal would significantly reduce competition in the DNA sequencing market.