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Additional Concessions Sought

Illumina could be facing a European Union anti-trust investigation in connection with its acquisition of Grail if it does not offer additional concessions, Reuters reports.

Illumina announced last September that it intended to buy Grail for $8 billion in cash and stock, but the deal has drawn the attention of regulators in the US and EU. In the US, the Federal Trade Commission challenged the deal, saying that it would lead to a decrease in innovation for multi-cancer early detection tests. As GenomeWeb then reported, Illumina made several promises including guaranteed supply and in vitro diagnostic licensing agreements in hopes of addressing FTC's concerns. Meanwhile, the European Commission announced it would also be reviewing the deal under a new EC guidance, though Illumina has challenged its jurisdiction.

According to Reuters, Illumina is moving ahead with seeking the EU's OK on the deal while awaiting a court ruling. It reports that Illumina informally offered similar concession to European regulators as it has to US ones, but that the EU regulators think they do not go far enough. This, Reuters say, could lead to a full-scale anti-trust investigation, if additional concessions are not made by a mid-July deadline.