EU Rejects Illumina Acquisition Of Grail
The European Union’s antitrust commission blocked the re-acquisition of Grail by Illumina days after an FTC administrative law judge ruled in favor of the merger in the US.
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The settlement resolves a total of eight lawsuits between the companies on genetic sequencing technology and alleged antitrust violations.
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.
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.