The FTC moves to block DNA sequencer Illumina’s acquisition of PacBio, calling company a ‘monopolist’
The Federal Trade Commission is challenging DNA sequencing giant Illumina’s proposed $1.2 billion purchase of rival Pacific Biosciences, alleging the acquisition would eliminate “a nascent competitive threat” to Illumina’s monopoly in deciphering genetic material.
“When a monopolist buys a potential rival, it can harm competition,” the deputy director of the FTC’s Bureau of Competition, Gail Levine, said Tuesday in a statement. “These deals help monopolists maintain power. That’s why we’re challenging this acquisition.”
