The proposed $8 billion merger between liquid biopsy firm Grail and cancer blood screening giant Illumina has met with nothing but flack since it was first announced in September. After hitting waves in the US earlier this year, the pact is now facing a potentially devastating setback in the EU as well.
The EU is prepared to launch a full-scale probe into a pending merger between drugmaker Grail and cancer diagnostics firm Illumina that has evolved into Exhibit A for international antitrust advocates’ case against noncompetitive pharma M&A, sources close to the deal told Reuters.
The proposed probe has evolved from a preliminary investigation started last month, with the EU now seeking greater concessions from the deal, the outlet said. The EU’s initial review is expected to wrap on July 22 with Grail and Illumina having until just Thursday to expand their concessions beyond a…
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