Illumina Files Action for Annulment of European Commission’s Decision Asserting Jurisdiction to Review GRAIL Acquisition
April 29 2021 - 9:05AM
Business Wire
Illumina, Inc. (NASDAQ: ILMN) announced today that it has filed
an action in the General Court of the European Union asking for
annulment of the European Commission’s decision asserting
jurisdiction to review Illumina’s acquisition of GRAIL. The
Commission asserted jurisdiction to review the acquisition under
Article 22 of the EU Merger Regulation on April 19, 2021, seven
months after the deal was announced.
“The European Commission’s unprecedented and untimely decision
to review this procompetitive acquisition without proper engagement
with the parties leaves businesses uncertain as to how the EU
Merger Regulation will be applied,” said Charles Dadswell, Senior
Vice President and General Counsel for Illumina. “The Commission’s
actions will stifle innovation, fail patients and increase
healthcare costs by needlessly delaying this transaction. The
acquisition will allow Illumina to bring GRAIL’s lifesaving testing
to more patients, more quickly and at a lower cost.”
While the Court process is ongoing, Illumina will continue to
work with the European Commission’s Directorate-General for
Competition to bring the review to a conclusion as quickly as
possible.
About Illumina
Illumina is improving human health by unlocking the power of the
genome. Our focus on innovation has established us as the global
leader in DNA sequencing and array-based technologies, serving
customers in the research, clinical, and applied markets. Our
products are used for applications in the life sciences, oncology,
reproductive health, agriculture, and other emerging segments. To
learn more, visit www.illumina.com and connect with us on Twitter,
Facebook, LinkedIn, Instagram, and YouTube.
Use of forward-looking statements
This release may contain forward-looking statements that involve
risks and uncertainties. Among the important factors to which our
business is subject that could cause actual results to differ
materially from expectations or guidance contained in any
forward-looking statements are: (i) changes in the rate of growth
in the markets we serve; (ii) the volume, timing and mix of
customer orders among our products and services; (iii) the outcome
of the pending acquisition of GRAIL, Inc.; (iv) challenges inherent
in developing, manufacturing, and launching new products and
services; (v) our ability to obtain regulatory clearance for our
products from government agencies, together with other factors
detailed in our filings with the Securities and Exchange
Commission, including our most recent filings on Forms 10-K and
10-Q, or in information disclosed in public conference calls, the
date and time of which are released beforehand. We undertake no
obligation, and do not intend, to update these forward-looking
statements, to review or confirm analysts’ expectations, or to
provide interim reports or updates on the progress of the current
quarter.
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Investors: Juliet Cunningham 858.200.6583
ir@illumina.com
Media: Dr. Karen Birmingham EMEA: +44 7500 105665 US:
646.355.2111 kbirmingham@illumina.com
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