Press release
Administrative Law Judge Rules in Favor of Illumina in FTC Challenge of GRAIL Deal
WASHINGTON, Sept. 1, 2022 /PRNewswire/ -- Illumina, Inc. (NASDAQ:ILMN), today received a favorable decision from the Administrative Law Judge (ALJ) presiding
About this update from Illumina, Inc.
[{"type":"text","content":"WASHINGTON, Sept. 1, 2022 /PRNewswire/ -- Illumina, Inc. (NASDAQ:ILMN), today received a favorable decision from the Administrative Law Judge (ALJ) presiding over the Federal Trade Commission's (FTC) challenge of the GRAIL acquisition. In the decision, the ALJ ruled for Illumina and rejected the FTC's position that the deal would adversely affect competition in a putative market for multi-cancer early detection (MCED) tests.\n\"Reuniting Illumina and GRAIL will transform the detection and treatment of cancer by facilitating widespread, affordable access to GRAIL's life-saving Galleri test. This decision is a step toward making that vision a reality,\" said Francis deSouza, Chief Executive Officer of Illumina. \"Too many of us have experienced or witnessed the devastating effects of cancer when it is diagnosed too late. Our mission in bringing Illumina and GRAIL back together is to save many thousands of lives by working to ensure that everyone can find and afford a Galleri test.\"\n\"As we've stated from the outset, this transaction is procompetitive, will advance innovation, lower healthcare costs and save lives. We are pleased that, after considering the evidence, the ALJ has reached the same conclusion,\" said Charles Dadswell, General Counsel of Illumina.\nGRAIL was founded by Illumina seven years ago with the goal of developing an early screening test for multiple types of cancer. The transaction will reunite Illumina and GRAIL at a critical time. GRAIL needs Illumina's scale and expertise to overcome significant hurdles to the widespread adoption of Galleri, including obtaining regulatory approval and insurance reimbursement as well as scaling production and distribution of the test.\nCautionary Note on Forward-Looking Statements\nThis release may contain forward-looking statements that involve risks and uncertainties. Among the important factors to which our business is subject that could cause actual results to differ materially from those in any forward-looking statements are: (i) the commercial success of the Galleri test; (ii) the risks and costs associated with the integration of, and our ability to integrate, GRAIL's business successfully to achieve anticipated synergies, including the restrictions on integration during any hold separate period or any delay in integration following any hold separate period; (iii) th...