Washington, September 1, 2022 /PRNewswire/ — Illumina, Inc. (NASDAQ:ILMN) today received a favorable decision from the Administrative Law Judge (ALJ) presiding over the Federal Trade Commission’s (FTC) challenge to the GRAIL acquisition. In this decision, the ALJ ruled in favor of Illumina, and he rejected the FTC’s position that the deal would adversely affect competition in the presumed market for multiple early detection of cancer (MCED) tests.
Francis de Souza, CEO of Illumina, said: “Too many people have experienced or witnessed the devastating effects of cancer diagnosed too late. It’s about saving thousands of lives by making it possible.”
“As we said from the beginning, this deal will be pro-competitive, foster innovation, reduce healthcare costs and save lives. After reviewing the evidence, we are pleased that the ALJ reached the same conclusion. I think,’ he said. Charles DoswellIllumina General Counsel.
GRAIL was founded by Illumina seven years ago with the goal of developing early screening tests for many types of cancer. The deal will see Illumina and his GRAIL reunite at a crucial time. GRAIL needs Illumina’s scale and expertise to overcome major hurdles to widespread adoption of Galleri. This includes obtaining regulatory approval and insurance reimbursement, scaling test production and distribution.
Cautionary Note Regarding Forward-Looking Statements
This release may contain forward-looking statements that involve risks and uncertainties. Some of the important factors affecting our business that could cause actual results to differ materially from the forward-looking statements include: (i) the commercial success of the Galleri Test; (ii) the risks and costs associated with integrating GRAIL’s businesses and our ability to successfully combine GRAIL’s businesses to achieve anticipated synergies; This includes restrictions on consolidation during the pending separation period or delayed consolidation after the pending separation period. (iii) the risk that any disruption resulting from the completion of our acquisition of GRAIL or the completion of any related legal or regulatory proceedings or obligations will harm our business, including our current plans and operations; (iv) potential adverse reactions or changes in business relationships resulting from the completion of our acquisition of GRAIL; (v) the risk of penalties associated with the consummation of the acquisition of GRAIL and the possibility that all or a portion of GRAIL’s assets or equity interests may be required to be sold on terms significantly worse than those set forth above on Form 10; We obtained GRAIL along with other factors detailed in filings with the Securities and Exchange Commission, including our most recent filings at -K and 10-Q, or information disclosed on a public conference call. Released in advance. The Company does not undertake any obligation to update these forward-looking statements, confirm or confirm analysts’ expectations, or provide interim reports or updates on progress for the current quarter, and does not undertake to do so. I don’t mean to.
About Illumina
Illumina improves human health by unlocking the power of the genome. Our focus on innovation has established us as a global leader in DNA sequencing and array-based technologies serving customers in research, clinical, and applied markets. Our products are used in applications in life sciences, oncology, reproductive health, agriculture, and other emerging fields. GRAIL, LLC, a wholly owned subsidiary of Illumina, is currently owned and operated separately to comply with interim measures orders imposed by the European Commission pending ongoing merger review. For more information, visit illumina.com and connect with us on Twitter, Facebook, LinkedIn, Instagram, and YouTube.
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