EU hits Illumina with $476M fine for Grail acquisition

Biotech company Illumina was fined $476 million by the European Union for acquiring cancer test company Grail without vetting from the EU, Bloomberg reported July 12.

The fine is about 10 percent of Illumnia's revenue last year; the company had set aside capital to prepare for the fine. Illumina plans to appeal the decision and described the fine as "disproportionate." 

Illumina finalized its purchase of Grail in August 2021. In April 2023, the Federal Trade Commission ordered Illumina to divest from Grail.

"If companies merge before our clearance, they breach our rules," EU Competition Commissioner Margrethe Vestager said. "Illumina and Grail knowingly and deliberately did so by implementing their tie-up as we were still investigating."

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