The US tries to prevent Illumina from acquiring cancer testing company Grail: Health


The agency said in a statement on Tuesday that March 30, 2021-(Reuters)-The Federal Trade Commission will seek to block Illumina Inc’s proposed acquisition of cancer detection and test manufacturer Grail Inc. Illumina’s share price for $7.1 billion on Tuesday. It fell 5.2% to US$373.88. The agency said the transaction will slow down the innovation of testing technologies designed to detect multiple types of cancer. The US Federal Trade Commission said that the life science company Illumina is the only US company that provides DNA sequencing for early detection tests for multiple cancers. The agency said that Grail conducted a non-invasive early detection biopsy test to use DNA sequencing to screen for a variety of cancers. Grail has developed a test called Galleri, which, according to the company’s website, is currently only available to participants in clinical studies. Spokeswoman Karen Birmingham said in a statement: “Illumina will resolutely defend its acquisition of Grail because we firmly believe that it is in the best interests of patients.”

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