Illumina (NASDAQ: ILMN) announced today that its board has elected Hologic CEO Stephen MacMillan to fill a new seat and become its non-executive chair. Edwards Lifesciences CFO Scott Ullem will fill a second new seat — bringing the number of board seats to 11 at the San Diego–based DNA sequencing and array-based tech developer. The […]
Illumina
Layoffs in medtech: These companies recently reduced their workforce
The workforce reduction trend has swept the economy recently, and unfortunately, the medtech space is not immune to layoffs. You’ve probably read about the ongoing layoffs sweeping the tech industry, media and more. For instance, Yahoo, Disney, Zoom and more all reported workforce reductions as companies across industries grapple with economic pressures. Think inflation, supply […]
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, […]
Illumina launches cloud-based next-gen sequencing software
Illumina (Nasdaq:ILMN) announced today that it released its Connected Insights cloud-based software for next-generation sequencing (NGS). San Diego-based Illumina designed Connected Insights to streamline interpretation and reporting from a range of assay types. This enables labs to scale the use of NGS. They can also reduce turnaround times for clinical reporting by integrating third-party knowledge […]
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 […]
Illumina is cutting 5% of its workforce
Illumina (Nasdaq:ILMN) announced that it commenced a headcount reduction totaling approximately 5% of its global workforce. The company said yesterday that it is proactively realigning its core operating expenses in response to the current macroeconomic environment. It seeks to maintain its focus on its innovation roadmap and sustainable long-term growth, according to an SEC filing. Get […]
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 […]
Illumina, Merck launch test for cancer development, progression insights
Illumina (Nasdaq:ILMN) announced today that it launched a new research test, co-developed with Merck (NYSE:MRK). The jointly developed test adds the assessment of a new genomic signature to the already distributed TruSight Oncology 500 assay, enabling researchers to unlock deeper insights about the tumor genome by identifying genetic mutations used in the evaluation of homologous […]
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 […]
