Illumina Inc has completed its $7.1 billion acquisition of cancer detection test maker Grail Inc, it said on Wednesday amid challenges posed by the U.S. Federal Trade Commission and the European Union antitrust regulators.
U.S. life sciences company Illumina Inc on Thursday deplored EU antitrust regulators' decision to suspend temporarily their investigation into its planned purchase of Grail Inc, saying that the cancer test maker was crucial to patients.
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A federal judge has agreed to Illumina’s request to hold an injunction hearing in San Diego rather than Washington, D.C., as the Federal Trade Commission moves to temporarily prevent the sequencing giant from acquiring cancer diagnostic firm Grail.
It’s the latest development in an ongoing feud between Illumina and the FTC. The FTC argues that the San Diego company’s $7.1 billion bid to buy Grail would prevent other companies from launching their own early detection cancer tests. Illumina denies that claim, adding that it has the expertise needed to help Grail get its diagnostic test ready for primetime.