Il­lu­mi­na to di­vest Grail, two years af­ter $8B deal was stymied by an­titrust is­sues

Il­lu­mi­na will di­vest its can­cer di­ag­nos­tic sub­sidiary Grail, it an­nounced Sun­day, end­ing a painful years-long saga in which the prized ac­qui­si­tion was held up by an­titrust reg­u­la­tors.

The move fol­lows a mixed de­ci­sion from the U.S. Fifth Cir­cuit Court of Ap­peals on the Fed­er­al Trade Com­mis­sion’s an­titrust case against the deal. Il­lu­mi­na said that rather than con­tin­ue the le­gal fight, which has been an on­go­ing dis­trac­tion for the com­pa­ny, it would sell Grail or spin it out in­to an in­de­pen­dent by the sec­ond quar­ter of 2024.

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