Update 9.22 AM EST: Adds comments from Illumina The EU regulators on Friday approved plans by U.S. genomics company Illumina (NASDAQ:ILMN) to divest Grail, the cancer test developer it acquired in ...

In a case that had been closely watched across multiple industries, Illumina chose to divest Grail in the light of legal action from the European Commission and the US Federal Trade Commission.

The Federal Trade Commission has ordered Illumina to divest Grail, the cancer detection business it bought for $7.1 billion in 2021, saying it will “stifle” competition and innovation in the US.

The San Diego company also lowered its financial guidance for 2025 in response to China’s import restrictions.

According to the decision of the EU's Court of Justice in Luxembourg, the European Commission had no right to block the acquisition of Grail Inc. by Illumina Inc. for $7 billion. This is stated in the ...

As a reminder, Illumina plans to divest liquid biopsy maker Grail through a third-party or capital market transaction by late 2024, with terms to be settled by midyear. As highlighted in early ...

The latest job cuts at Illumina’s California headquarters are not part of a broad-based reduction, a company spokesperson ...

Illumina's financial flexibility declined a bit to purchase Grail, but given the use of equity and limited debt, Illumina's balance sheet remains lightly leveraged. As of December 2023 ...

I keep my rating as a BUY. Illumina (NASDAQ:ILMN) reached a solid profitability level thanks to Grail divestment and a cost-cutting plan. Free Cash Flow is increasing and could reach $1.2bn for ...

Grail (NASDAQ:GRAL) noted that more than 500K providers used the Quest (DGX) system last year. Illumina (ILMN) spun off Grail (GRAL) in June after being told by regulators to unwind a merger with ...

Regulatory developments were a notable feature this quarter, with Illumina navigating complex legal landscapes. The favorable court ruling regarding GRAIL in the European Court was a positive step ...