The EU blocked Illumina’s acquisition of Grail, just days after the American life-sciences company won its case to do so in the U.S.
The fate of the acquisition has emerged as an early test case for regulators in the U.S. and EU who have vowed to scrutinize mergers more closely after years allowing many corporate combinations.
The action is a significant intervention by the European competition authority in a case that involves a U.S. company—Grail—with no current revenue inside the bloc. He added it wasn’t unusual for the EU, which is known to aggressively pursue antitrust enforcement, to weigh in on a transaction involving two U.S. companies so long as it has jurisdiction.
“Illumina can make Grail’s lifesaving, multicancer early detection test more available, more affordable, and more accessible—saving lives and lowering healthcare costs,” said Charles Dadswell, Illumina’s general counsel. San Diego-based Illumina, which makes and sells genetic-sequencing machines and the chemicals those machines use, founded Grail and spun off a majority of the business in 2017, retaining a minority stake.
The European Commission said Illumina is the only suitable supplier of the genetic-sequencing systems that are used by Grail and its rivals.
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