Illumina Remains Committed To Grail Merger Despite Regulators' Doubts
Illumina insists its proposed $8bn acquisition of Grail, the developer of the Galleri multi-cancer test, would be “pro-competitive.” But antitrust regulators in the US government and European Commission suspect the deal would reduce competition and innovation in the future genomic diagnostics market.
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Exec Chat: Illumina CMO Looks From Pandemic Boom To Future Where Genomics Is ‘Foundational’ To Health Care
Illumina’s chief medical officer Phillip Febbo discusses expanding use cases for gene sequencing, the firm’s planned introduction of new long-read sequencing technology Infinity, the status of its Grail acquisition, and additional plans for 2022.
The companies will argue the deal is “pro-competitive and life-saving” at a US Federal Trade Commission administrative trial on 24 August, but the FTC maintains the deal will hinder innovation in the multi-cancer diagnostics market. The merger is also facing regulatory scrutiny in Europe.
The request for additional records delays the deal, and could indicate that the commission has specific concerns about the merger between the Botox vendor and an aesthetic device manufacturer.