Press release
Illumina Intends to Appeal European Commission's Decision in GRAIL Deal
SAN DIEGO, Sept. 6, 2022 /PRNewswire/ -- Illumina, Inc. (NASDAQ:ILMN), today received a decision from the European Commission prohibiting the company's
About this update from Illumina, Inc.
[{"type":"text","content":"SAN DIEGO, Sept. 6, 2022 /PRNewswire/ -- Illumina, Inc. (NASDAQ:ILMN), today received a decision from the European Commission prohibiting the company's acquisition of GRAIL. The company is reviewing the Commission's order and intends to appeal the decision. The EC decision follows last week's ruling by US Federal Trade Commission judge in favor of Illumina's acquisition of GRAIL.\n\"We are disappointed with the European Commission's decision prohibiting us from acquiring GRAIL back to Illumina,\" said Charles Dadswell, General Counsel of Illumina. \"Illumina can make GRAIL's life-saving multi-cancer early detection test more available, more affordable, and more accessible – saving lives and lowering healthcare costs. As we continue to believe, this merger is pro-competitive and will accelerate innovation. Last week the Chief Judge of the US Federal Trade Commission issued a decision supporting Illumina acquiring GRAIL.\"\nIn addition, to prepare for the anticipated divestment order from the European Commission in the coming months, the company will begin reviewing strategic alternatives for GRAIL in the event the divestiture is not stayed pending Illumina's appeal.\nThe merger of Illumina and GRAIL would usher in a transformational phase in the detection and treatment of cancer by facilitating equal and affordable access to the life-saving early cancer detection Galleri test.\nWith a single blood test, Galleri can screen asymptomatic patients for more than 50 types of cancer, many of which have no other form of screening and are often caught too late to treat effectively. In addition, Galleri can identify the tissue in which a cancer has developed. Galleri is unique as a multicancer early detection test suitable for general population screening. There is no other test available for this purpose. Galleri is available today in the US and the UK, but not in the European Union. \nIllumina would accelerate GRAIL's commercial entry into the EU at scale by at least five years, saving tens of thousands of lives in the EU and billions of euros in healthcare costs.\nA combined Illumina and GRAIL is key to helping the European Union achieve the goals outlined in Europe's Beating Cancer Plan, which states: \"Early detection through screening offers the best chance of beating cancer and saving lives.\" Today, 71% of cancer-related deaths are...