In a landmark decision announced on September 6, 2022 ("Decision"), the European Commission ("EC") prohibited the acquisition by Illumina, a U.S. company specialising in genomic sequencing, of GRAIL, a U.S.-based start-up developing early cancer-detection tests ("Transaction"). In September 2020, Illumina announced its acquisition of Grail. An error has occurred, please try again later. For the need of its activity, the latter needs genomic sequences to develop its tests. This, the EC reasoned, would give Illumina sufficient incentive to engage in input foreclosure by diverting profits from GRAILs putative rivals to the merged entity (even though GRAILs flagship Galleri test has not yet entered the EEA market). EU renews Illumina order to keep Grail as separate entity Illumina notified the Transaction to the EC in June 2021 and closed the Transaction in August 2021 before the EC had completed its investigation. Illumina Intends to Appeal European Commission's Decision in GRAIL Deal The Commission asserted jurisdiction to review the acquisition under Article 22 of the EU Merger Regulation on April 19, 2021, seven months after the deal was announced. On 16 December 2021, the EU's General Court heard Illumina's appeal against the Commission's assertion of jurisdiction. The company is . The Federal Trade Commission European Commission to review acquisition of innovative biotech company Grail by Illumina, the world leader in genome sequencing On 20 September 2020, Illumina Inc. (hereinafter "Illumina"), an American genomic sequencing company, announced its intention to acquire US-based Grail for a transaction amount of approximately $8 billion. While the Court process is ongoing, Illumina will continue to work with the European Commissions Directorate-General for Competition to bring the review to a conclusion as quickly as possible. will appeal a fresh decision from the European Commission that prohibits the gene-sequencing company from acquiring biotechnology company Grail. On 6 September 2022, the European Commission announced that it has decided, under Article 8(3) of the EU Merger Regulation, . GRAIL will remain a separate and independent unit, pending ongoing regulatory and legal review Illumina, Inc. (NASDAQ: ILMN) announced today that it has acquired GRAIL, a healthcare company focused on life-saving early detection of multiple cancers, but will hold GRAIL as a separate company during the European Commission's ongoing regulatory review. Illumina, Inc. (ILMN) said Tuesday that the company is reviewing the European Commission's ((EC)) decision prohibiting the acquisition of cancer test developer GRAIL, and it plans to. SAN DIEGO Illumina, Inc. (NASDAQ:ILMN), today received a decision from the European Commission prohibiting the company's acquisition of GRAIL. On September 6, 2022, the European Commission (Commission) announced that it had prohibited the acquisition by Illumina Inc., a U.S company supplying sequencing- and array-based solutions for genetic and genomic analysis, of Grail LLC, another U.S. company that develops blood tests for the early detection of cancers, under the EU Merger Regulation (EUMR). The EC concluded that the upstream commitments . Macfarlanes LLP. The EC based its Decision on input foreclosure: that the Transaction would have enabled and incentivised Illumina to foreclose GRAILs putative rivals that depend on Illuminas NGS technology from accessing an essential input they would need to develop and market blood-based early cancer detection tests. For specific trademark information, see www.illumina.com/company/legal.html. Consequences of material differences in results as compared with those anticipated in the forward-looking statements could include, among other things, business disruption, operational problems, financial loss, legal liability to third parties and similar risks, any of which could have a material adverse effect on Illumina's financial condition, results of operations, credit rating or liquidity. The European Commission (EC) Tuesday announced its decision to prohibit US biotechnology company Illumina's acquisition of the cancer-test provider GRAIL, citing concerns on the takeover's impact on competition in the market. General Court Upholds European Commission's Power to Review Illumina-Grail Sequence Hub, BaseSpace Galleri is unique as a multicancer early detection test suitable for general population screening. In contrast, if we diagnose cancer early, approximately 90% of patients are expected to survive beyond five years.1 The GRAIL merger would not only accelerate multicancer early detection in the EU but would also reduce inequity in cancer care by making early diagnosis affordable and widespread, another key priority of Europe's Beating Cancer Plan. This case involved many "firsts": It is the first time that the EC prohibited the acquisition of a U.S. startup with no revenues in the European Union; it is the first time . The EC decision follows last week's ruling by US Federal Trade Commission judge in favor of Illumina's acquisition of GRAIL. Vous pouvez modifier vos choix tout moment en consultant vos paramtres de vie prive. Illumina/Grail: An unholy war continues - The Thicket Customer Dashboard, Infrastructure Moving now to 2022 guidance. & Pipeline Setup, Sequencing Data Retailer Reg: 2019--2018 | Illumina/GRAIL: EC Blocks Transaction Below EU and Referring Member Interpretation, Certificates (CofC, CofA) and Master Lot Sheets, AmpliSeq for Illumina Cancer Hotspot Panel v2, AmpliSeq for Illumina Comprehensive Cancer Panel, Breast Cancer Target Identification with High-Throughput NGS, The Complex World of Pan-Cancer Biomarkers, Microbiome Studies Help Refine Drug Discovery, Identifying Multidrug-Resistant Tuberculosis Strains, Investigating the Mysterious World of Microbes, IDbyDNA Partnership on NGS Infectious Disease Solutions, Infinium iSelect Custom Genotyping BeadChips, 2020 Agricultural Greater Good Grant Winner, 2019 Agricultural Greater Good Grant Winner, Gene Target Identification & Pathway Analysis, TruSeq Methyl Capture EPIC Library Prep Kit, Genetic Contributions of Cognitive Control, Challenges and Potential of NGS in Oncology Testing, Partnerships Catalyze Patient Access to Genomic Testing, Patients with Challenging Cancers to Benefit from Sequencing, NIPT vs Traditional Aneuploidy Screening Methods, SNP Array Identifies Inherited Genetic Disorder Contributing to IVF Failures, NIPT Delivers Sigh of Relief to Expectant Mother, Education is Key to Noninvasive Prenatal Testing, Study Takes a Look at Fetal Chromosomal Abnormalities, Rare Disease Variants in Infants with Undiagnosed Disease, A Genetic Data Matchmaking Service for Researchers, Using NGS to Study Rare Undiagnosed Genetic Disease, Progress for Patients with Rare and Undiagnosed Genetic Diseases, https://www.prnewswire.com/news-releases/illumina-intends-to-appeal-european-commissions-decision-in-grail-deal-301618175.html, Illumina Genomics Forum to Feature Diverse Lineup of Visionary Global Leaders, Illumina Announces Opportunity to View Live Webcast of Illumina Genomics Forum Innovation Roadmap Session Followed by Investor Conference Call. We undertake no obligation, and do not intend, to update these forward-looking statements, to review or confirm analysts expectations, or to provide interim reports or updates on the progress of the current quarter. Our focus on innovation has established us as the global leader in DNA sequencing and array-based technologies, serving customers in the research, clinical, and applied markets. James Parkinson. Illumina will appeal a fresh decision from the European Commission that prohibits the gene-sequencing company from acquiring biotechnology company Grail. This communication contains "forward-looking statements" within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Greenwood Genetic Center: Answering the Unanswered, Rarebase Is on the Hunt for Therapeutic Opportunities, Empowering the Disability Community at Illumina, BaseSpace European Commission Prohibits Illumina-Grail Acquisition: Innovation Variant Interpreter, MyIllumina Illumina 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. & Pipeline Setup, Sequencing Data Illumina Intends to Appeal European Commission's Decision in GRAIL Deal Retailer Reg: 2019--2018 | This is the first time the EC has reviewed and blocked a transaction falling below the EUMR and referring Member State notification thresholds.[2]. Illumina innovative sequencing and array technologies are fueling groundbreaking advancements in life science research, translational and consumer genomics, and molecular diagnostics. Having conducted a market investigation, the EC found the remedies insufficient to prevent harm to innovation in NGS-based cancer detection tests. The EC decision follows last week's ruling by US Federal Trade Commission judge in favor of Illumina's acquisition of GRAIL. Not for use in diagnostic procedures (except as specifically noted). Illumina All eyes are on the Court as a decision is expected in the next few months. On the substance of the case, Illumina challenged the Commission's Decisions on three points, essentially alleging: 1) a lack of competence on the part of the Commission, 2) that the referral request of France was late and 3) that the Decisions violated the principle of protection of legitimate expectations. European Companies Poised to Gain as EU Commission Blocks Illumina The EC decision follows last week's ruling by US Federal Trade Commission judge in favor of Illumina's acquisition of GRAIL. Illumina/GRAIL: EC Blocks Transaction Below EU and Referring Member [1] EC Press Release IP/22/5364, Mergers: Commission prohibits acquisition of GRAIL by Illumina, September 6, 2022 (EC Press Release). Unlisted factors may present significant additional obstacles to the realization of forward-looking statements. On Aug. 18, Illumina announced it had completed the $8 billion purchase of Grail, despite regulatory action in the US and Europe, but intends to hold the companies separate until those proceedings are resolved, one way or the other. On 6 September 2022, the European Commission (EC or the Commission) prohibited Illumina's acquisition of Grail, bringing to an end the administrative stage of a legal saga that has attracted interest beyond competition law specialists.The Commission's decision follows the recent ruling by an Administrative Law Judge rejecting the U.S. Federal Trade Commission (FTC)'s challenge to the . These and other forward-looking statements are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed in any forward-looking statements. The EC considered that GRAILs rivals, which require high-throughput NGS systems with a reliable support network and a solid track record, could only source NGS systems from Illumina in the short- to medium-term in a market that would be characterized by high barriers to entry and long and costly switching. Enable comprehensive genomic profiling with accurate and comprehensive homologous recombination deficiency assessment, Discover novel trait and disease associations with optimized tag SNPs and functional exonic content at an attractive price, All Software & Informatics Greenwood Genetic Center: Answering the Unanswered, Rarebase Is on the Hunt for Therapeutic Opportunities, Empowering the Disability Community at Illumina, BaseSpace The deal between Illumina and Grail would have stifled innovation and reduced choice in the emerging market for blood-based early cancer detection tests, the European Commission said in a news release Tuesday. EU Orders Illumina To Keep Grail As A Separate Entity Variant Interpreter, MyIllumina At the same time, Illumina has challenged the jurisdiction of the EC in the General Court of the European Union and expects a decision by early 2022. "The European Commission has renewed and adjusted, under the EU Merger Regulation, the interim measures that ensure that Illumina and GRAIL remain separate following the Commission's. The European Commissions unprecedented and untimely decision to review this procompetitive acquisition without proper engagement with the parties leaves businesses uncertain as to how the EU Merger Regulation will be applied, said Charles Dadswell, Senior Vice President and General Counsel for Illumina. Illumina, Inc. (ILMN) Q3 2022 Earnings Call Transcript Illumina Intends to Appeal European Commission's Decision in GRAIL Deal Bio-IT Platform, TruSight The Federal Trade Commission filed an administrative complaint and authorized a federal court lawsuit to block Illumina's $7.1 billion proposed acquisition of Graila maker of a non-invasive, early detection liquid biopsy test that can screen for multiple types of cancer in asymptomatic patients at very early stages using DNA sequencing. The EC accepted the referral request in April 2021, and requested the merging parties to notify the Transaction to the EC. 2022 Cleary Gottlieb Steen & Hamilton LLP, Climate Change Litigation and Enforcement, Consumer Protection Litigation and Enforcement, Economic Sanctions and Foreign Investments, Executive Compensation and Employee Benefits, Private Funds Alternative and Liquidity Transactions, Sovereign Governments and International Institutions, Commission Guidance on the application of the referral mechanism set out in Article 22 of the Merger Regulation to certain categories of cases, The Executive Remuneration Review, 11th Edition, FCO Prohibits Lufthansa From Terminating Feeder Flights for Condor, New York State Supreme Court Allows Claims by Minority Lenders Not Participating in Uptier Debt Exchange to Survive Motion to Dismiss, Illumina/GRAIL: EC Blocks Transaction Below EU and Referring Member State Merger Control Thresholds for the First Time. One thing yet to emerge is whether Illumina will face a fine for completing the deal, without waiting for the European Commission to come up with a decision. The Tribunal of the European Union sustains the Commission in the The 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. This increased scrutiny includes placing greater emphasis on the impact of putative foreclosure on potential competition concerns. On September 6, 2022, almost two years after its announcement, the EC prohibited the Transaction. ir@illumina.com, Media: [6] See Cleary Gottlieb Alert Memo, Illumina/Grail: General Court Upholds ECs Merger Referral Policy, Expanding EC Jurisdiction Over Non-reportable Transactions, July 18, 2022. 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 European Commission has prohibited Illumina Inc's (NASDAQ: ILMN) acquisition of GRAIL. Illumina is appealing this as well as the regulator's jurisdiction to review the deal, and expects a . Illumina announced Tuesday it plans to appeal the European Commission's decision to prohibit the DNA sequencing firm's multibillion-dollar acquisition of cancer detection company GRAIL. 23. Illumina/Grail: General Court Upholds EC's Merger Referral Policy Illumina is the only provider of DNA sequencing that . Illumina, Inc. (NASDAQ:ILMN), today received a decision from the European Commission prohibiting the company's acquisition of GRAIL. [2] The EC has previously blocked transactions referred to it by Member States before the adoption of their respective merger control regimes: RTL/Veronica/Endemol, Case IV/M.553, Commission decision of September 20, 1995; Kesko/Tuko, Case IV/M.784, Commission decision of November 20, 1996; and Blokker/Toys R Us (II), Case IV/M.890, Commission decision of June 26, 1997. Illumina Intends to Appeal European Commission's Decision in GRAIL Deal On 6 September 2022, the European Commission (EC or the Commission) prohibited Illumina's acquisition of Grail, bringing to an end the administrative stage of a legal saga that has attracted interest beyond competition law specialists.The Commission's decision follows the recent ruling by an Administrative Law Judge rejecting the U.S. Federal Trade Commission (FTC)'s challenge to the . Illumina/GrailThe Dawn of a New Era for Global Merger Control? US: 646.355.2111 Illumina vs European Commission: the EU General Court endorses the The company is . In a landmark decision, the European Commission (Commission) has prohibited Illumina's $7.1 billion completed acquisition of GRAIL, following an Article 22 EU Merger Regulation (EUMR) referral. Apps, DRAGEN Illumina Intends to Appeal European Commission's Decision in GRAIL Deal Sep 06, 2022 (PRNewswire via COMTEX) -- PR Newswire SAN DIEGO, Sept. 6, 2022 SAN. As a reminder, pending the outcome of the European Commission's investigation into Illumina's acquisition of GRAIL, the commission has adopted an order requiring Illumina and GRAIL to be held and operated as distinct and separate entities for an interim period. Interpretation, Certificates (CofC, CofA) and Master Lot Sheets, AmpliSeq for Illumina Cancer Hotspot Panel v2, AmpliSeq for Illumina Comprehensive Cancer Panel, Breast Cancer Target Identification with High-Throughput NGS, The Complex World of Pan-Cancer Biomarkers, Microbiome Studies Help Refine Drug Discovery, Identifying Multidrug-Resistant Tuberculosis Strains, Investigating the Mysterious World of Microbes, IDbyDNA Partnership on NGS Infectious Disease Solutions, Infinium iSelect Custom Genotyping BeadChips, 2020 Agricultural Greater Good Grant Winner, 2019 Agricultural Greater Good Grant Winner, Gene Target Identification & Pathway Analysis, TruSeq Methyl Capture EPIC Library Prep Kit, Genetic Contributions of Cognitive Control, Challenges and Potential of NGS in Oncology Testing, Partnerships Catalyze Patient Access to Genomic Testing, Patients with Challenging Cancers to Benefit from Sequencing, NIPT vs Traditional Aneuploidy Screening Methods, SNP Array Identifies Inherited Genetic Disorder Contributing to IVF Failures, NIPT Delivers Sigh of Relief to Expectant Mother, Education is Key to Noninvasive Prenatal Testing, Study Takes a Look at Fetal Chromosomal Abnormalities, Rare Disease Variants in Infants with Undiagnosed Disease, A Genetic Data Matchmaking Service for Researchers, Using NGS to Study Rare Undiagnosed Genetic Disease, Progress for Patients with Rare and Undiagnosed Genetic Diseases, https://www.businesswire.com/news/home/20210429005356/en/, Illumina To Webcast Upcoming Investor Conference, Illumina to Donate US $60 Million in Sequencing Capabilities to Establish a Global Pathogen Genomics Initiative. [12] See, e.g., Case COMP/M.8665 Discovery/Scripps, Commission decision of February 6, 2018; Case COMP/M.7822 Dentsply/Sirona, Commission decision of February 25, 2016. For the best Barrons.com experience, please update to a modern browser. The European Commission opens a review of Illumina's acquisition of [9] Case T-23/22 GRAIL v. Commission (pending). "The European Commission has renewed and adjusted, under the EU Merger Regulation, the interim measures which ensure that Illumina and GRAIL remain separate following the Commission's decision to block the merger," said the EU supervisory authority in a statement. [1] The EC blocked the Transaction even though it did not meet notification thresholds under the EU . September 8, 2022 Client Alert The last week has seen crucial developments at the European Commission (EC) and U.S. Federal Trade Commission (FTC) regarding the antitrust review of the $7.1 billion proposed acquisition by Illumina (the leading supplier of next generation screeners (NGS)) of cancer screening startup GRAIL. Illumina/GRAIL: EC Blocks Transaction Below EU and Referring Member antitrust. Illumina is improving human health by unlocking the power of the genome. Illumina to Appeal European Commission Decision to Block Grail European Commission halts Illumina's quest for GRAIL SAN DIEGO, Sept. 6, 2022 /PRNewswire/ -- Illumina, Inc. (NASDAQ:ILMN), today received a decision from the EuropeanCommission prohibiting the company's acquisition of GRAIL. Hagerty, Colleagues Implore Biden Administration to Intercede in In a landmark decision announced on September 6, 2022 (Decision), the European Commission (EC) prohibited the acquisition by Illumina, a U.S. company specialising in genomic sequencing, of GRAIL, a U.S.-based start-up developing early cancer-detection tests (Transaction). European Commission Acts to Block Illumina-Grail Transaction Just Days Illumina announced Tuesday it plans to appeal the European Commission's decision to prohibit the company's acquisition of cancer detection company GRAIL. Yet, days later, the European Commission ruled against the merger, contravening the FTC's decision and jeopardizing this advancement of lifesaving cancer-detection technology. Sequence Hub, BaseSpace European Commission Objects to Illumina Pushing Through Grail Purchase First, the Decision confirms the uncertainty created by the ECs March 2021 Guidance Paper in respect of transactions involving targets that have no activities or turnover in the EU. 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. (c) During the third quarter of 2022, the company recognized $3.91 billion in goodwill impairment . Illumina announced that it intends to appeal the decision. As a global company that places high value on collaborative interactions, rapid delivery of solutions, and providing the highest level of quality, we strive to meet this challenge. For specific trademark information, see www.illumina.com/company/legal.html. It is mission critical for us to deliver innovative, flexible, and scalable solutions to meet the needs of our customers. Illumina Intends to Appeal European Commission's Decision in GRAIL Deal The European Commission decision to block the merger is odd. Press corner | European Commission [14] In January 2022, the EC prohibited Hyundai Heavy Industries acquisition of Daewoo. Illumina Plans To Appeal European Commission's Decision In Grail Deal This whole thing becomes a moot point if the FTC decides to disband the Illumina-GRAIL merger. Illumina, the global leader in DNA . While the list of factors presented here is, and the list of factors presented in Illumina's public filings are, considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. Illumina will appeal a fresh decision from the European Commission that prohibits the gene-sequencing company from acquiring biotechnology company Grail. Host: https://www.illumina.com | The Commission asserted jurisdiction to review the acquisition under Article 22 of the EU Merger Regulation on April 19, 2021, seven months after the deal was announced. To learn more,visitillumina.comand connect with us onTwitter,Facebook,LinkedIn,Instagram, andYouTube. As a result, so the EC found, GRAILs putative rivals would be disadvantaged compared to GRAIL in an emerging early cancer-detection testing market. Illumina Intends to Appeal European Commission's Decision in GRAIL Deal https://www.barrons.com/articles/illumina-grail-european-commission-51662469307. San Diego-based Illumina said it is reviewing the. EU institutions; European Union; About the Commission's new web presence; Language policy; Second, the Decision confirms the ECs increasing scrutiny of vertical mergers and its skepticism of non-divestiture-like remedies. 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