Illumina (Nasdaq:ILMN) announced today that it received approval of its plan to divest Grail from the European Commission (EC). In September 2020, Illumina announced an agreement to acquire Grail, a DNA sequencing and array-based tech developer. Grail itself was a startup that initially spun out from the company in 2016. Illumina completed the acquisition in August […]
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The top IVD and diabetes tech stories of 2023
Over the course of 2023, the medtech industry produced another impressive year of innovation, with news coming from a variety of spaces. Chiefly among those were diabetes technologies and in vitro diagnostics (IVDs). We saw regulatory nods, product launches, funds raised and mergers fall apart. Looking at those two spaces in particular, here are five […]
Illumina will divest Grail after court backs FTC ruling
Illumina (Nasdaq:ILMN) announced that it plans to divest Grail after a drawn-out legal battle over the $7.1 billion acquisition. In September 2020, Illumina announced an agreement to acquire Grail, a DNA sequencing and array-based tech developer. Grail itself was a startup that initially spun out from the company in 2016. Illumina completed the acquisition in […]
EU orders Illumina to divest Grail after ‘unlawful’ merger
The European Commission today announced it has ordered Illumina (Nasdaq: ILMN) — the DNA sequencing and array-based tech developer — to unwind and divest its Grail acquisition. The decision follows the commission’s decision to prohibit the transaction in September 2022 over concerns the merger would be anticompetitive and “stifle” innovation in the market. Despite the […]
EU hits Illumina with $478M fine over Grail deal
The European Commission announced today that it issued significant fines to Illumina (Nasdaq:ILMN) and Grail as a result of their proposed merger. European authorities fined Illumina approximately $478.9 million (€432 million) and Grail $1,108 (€1,000). They claim the companies implemented their proposed merger before approval by the Commission. Such actions breach European Union merger control […]
Illumina to appeal FTC decision on Grail acquisition, aims for resolution by 2024
Illumina (Nasdaq:ILMN) announced today that it plans to appeal the Federal Trade Commission’s (FTC) decision over its acquisition of Grail. The FTC today announced that it finds the $7.1 billion acquisition “likely to substantially reduce competition” in the U.S. It would affect the research, development and commercialization of cancer tests, FTC said. In its decision, […]
Report: EU may hit Illumina with maximum penalty over Grail deal
Reuters reported this week that Illumina (Nasdaq:ILMN) may face a heavy penalty in Europe for completing its acquisition of Grail. According to the report, the likelihood is that Illumina is penalized with a fine totaling 10% of its global annual turnover — the maximum penalty available. This comes as a result of the company closing […]
European Commission blocks Illumina’s Grail acquisition, company to appeal
Illumina (Nasdaq:ILMN) announced today that the European Commission issued a decision prohibiting its planned acquisition of Grail. San Diego-based Illumina said it is reviewing the order and intends to appeal the decision. The new hurdle in Europe follows a recent ruling in the U.S. that favored the acquisition. An administrative law judge in the U.S. […]
Illumina clears antitrust hurdle related to merger with Grail
Illumina (Nasdaq:ILMN) announced today that an administrative law judge in the U.S. has rejected the Federal Trade Commission’s argument that the company’s $8 billion acquisition of Grail was anti-competitive. More than a year after the deal closed, Illumina is still keeping Grail operating as a separate internal entity under a European Commission order. An Illumina […]
Moody’s warns of cybersecurity, antitrust and supplier risks for medical device companies
Medical device companies face heightened cybersecurity burdens, antitrust enforcement and supplier risks, according to a new report out of Moody’s. The research firm’s previous quarterly report in February called attention to continued supply chain and labor problems for medtech. The report flagged legislative proposals for new rules and regulations on medical device developers and manufacturers, including new […]
Medtech M&A: The industry’s biggest mergers and acquisitions of 2021
Across 2021, medtech has seen a wide range of mergers and acquisitions covering several areas of devices, pharmaceuticals and more. Some have gone off without a hitch, while others fell into serious scrutiny as mouthwatering financial figures were revealed and major technologies were acquired. Here are the 10 biggest mergers and acquisitions in medtech in […]
