Hans Bishop, Grail CEO (Victor J. Blue/Bloomberg via Getty Images
Looking to crack down on big biopharma M&A deals, FTC sues to block Illumina's $8B Grail acquisition
For the second time in as many years, the FTC is trying to block Illumina from making a multi-billion dollar acquisition.
The federal agency filed a lawsuit Tuesday to block the sequencing giant from buying out Grail and its cancer-detecting blood test technology. The deal, announced last fall, saw Illumina pay Grail stockholders $8 billion as a part of the 23-year-old biotech’s broader plan to move beyond sequencing and into applications for the insights sequencing can bring.
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