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EU fines US firm Illumina $475 million for jumping gun on buyout of cancer-screening company Grail

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The European Union slapped a $475 million fine on U.S. biotech giant Illumina for buying out cancer-screening company Grail without the approval of the EU's antitrust watchdog. Last year, the EU blocked the $7.1 billion merger on competition grounds.

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Illumina is a major supplier of next-generation sequencing systems for genetic and genomic analysis, while Grail is a health company developing blood tests to try to catch cancer early.

 

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