STAT+: Europe issues maximum antitrust fine of $475 million to Illumina over Grail deal
LONDON — The European Union on Wednesday issued an antitrust fine of $475 million to the U.S. genetic sequencing giant Illumina for closing its acquisition of cancer detection company Grail before clearing it with regulators.
The fine amounts to 10% of Illumina’s annual global revenue, which is the most the European Commission can penalize a company under its merger regulations. The commission called Illumina’s actions “an unprecedented and very serious infringement” of the EU’s policies.
The commission also issued what it called a symbolic fine of 1,000 Euros, or $1,100, to Grail for what it said was the firm’s “active role” in the deal’s infringement of EU rules.
