2025 EU Imposes Record $476 Million Fine on Illumina for Unauthorized 2021 Grail Acquisition
In 2025, the European Commission levied its largest-ever merger fine of 432 million euros ($476 million) against biotech giant Illumina for completing its $8 billion Grail acquisition without prior approval, highlighting stringent antitrust enforcement in the cancer detection market.
Since 2021, regulators have raised significant antitrust concerns over Illumina's acquisition of Grail.
In a landmark decision, the European Commission fined Illumina a record 432 million euros ($476 million) for finalizing its takeover of Grail without the necessary regulatory approval. Additionally, Grail was fined 1,000 euros ($1,100), underscoring the Commission's commitment to fair competition.
Key Highlights
- Illumina received the largest merger regulation fine in EU history for closing the Grail deal without authorization.
- Both the European Commission and the U.S. Federal Trade Commission (FTC) expressed concerns that the acquisition could hinder innovation and reduce consumer options in the emerging cancer detection testing market.
- The FTC mandated Illumina to divest its $7.1 billion investment in Grail, intensifying regulatory pressures.
Originally announced in 2020, Illumina's $8 billion acquisition of Grail combined $3.5 billion in cash with $4.5 billion in common stock. Illumina emphasized that the acquisition aimed to accelerate patient access to multi-cancer early detection blood tests.
The deal officially closed in August 2021, with Illumina assuring that Grail would operate independently and that the transaction would undergo EU regulatory scrutiny. However, the European Commission launched an investigation in July 2021 and ultimately blocked the transaction in September 2022, citing anticompetitive risks.
In April 2024, the FTC escalated the matter by filing an administrative complaint and ordering Illumina to divest its stake in Grail. Illumina announced plans to appeal the FTC's ruling in Federal Court, seeking expedited resolution by late 2023 or early 2024.
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