Illumina founded Grail and spun it off in 2016, but re-acquired it in 2021 for $7.1 billion to enter the cancer early-detection market, before first securing EU regulatory approval.

The EU regulators on Friday approved plans by U.S. genomics company Illumina (NASDAQ:ILMN) to divest Grail, the cancer test developer it acquired in 2021, despite antitrust concerns.

But Illumina still must submit a plan to the commission for approval. In the meantime, the companies must remain separate and the commission has directed Illumina to fund Grail’s cash needs to ...

EU antitrust regulators plan to order U.S. life sciences ... Illumina completed the deal in August last year ahead of EU regulatory approval, ... Illumina faces an EU fine of as much as 10% of ...

U.S. biotech firm Illumina was hit with a record antitrust fine of $476 million (€432 million) by the European Union Wednesday for failing to secure regulatory approval from the bloc for its $7. ...

The European Union is ordering U.S. biotech giant Illumina to undo its $7.1 billion purchase of cancer-screening company Grail because it closed the deal without approval of regulators.

BRUSSELS (Reuters) -U.S. gene sequencing company Illumina's plan to divest cancer diagnostic test maker Grail received the green light from EU antitrust regulators on Friday after having blocked the ...