EU fines Illumina $475 million in Grail acquisition case

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Illumina has been fined for buying cancer-screening company Grail without approval from the European Union’s competition regulator. Illumina announced the acquisition of Grail in 2020 for US$7.1 billion.

Brussels. The European Union on Wednesday fined US biotech company Illumina $475 million. Illumina has been fined for buying cancer-screening company Grail without approval from the European Union’s competition regulator. Illumina announced the acquisition of Grail in 2020 for US$7.1 billion.

The European Commission, the EU’s executive arm, said Illumina had broken EU merger rules by proceeding to complete the deal without its consent. The European Union put a hold on the merger deal last year. “This is a very serious breach and if companies merge without our approval, it is a breach of our rules,” said EU Competition Commissioner Margrethe Vestager. Illumina and Grail did this intentionally.

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