Daily Management Review

European Commission approves Illumina's plan to sell Grail


The European Commission authorized American Illumina Inc.'s plan to sell the company that developed the Grail cancer detection tests, according to a press release from the EC.

European Commission approves Illumina's plan to sell Grail
The sale will make Grail independent, enabling it to continue competing in the market, according to the regulator.

EU antitrust laws were broken when Illumina finalized the purchase of Grail in 2021, while the European Commission was thoroughly reviewing the agreement.

The European Commission (EC) decided in September 2022 to block the merger because they thought it would hinder innovation and reduce consumer choice in the early cancer detection test market. To bring Grail back to its pre-closing state, the regulator ordered Illumina to spin it out into a separate business in October 2023.

Illumina announced in December that it would sell Grail to a third party or through a capital market transaction in order to spin it off. The goal of the corporation is to finish this process by the end of 2024's second quarter.

source: ft.com