Illumina's Grail Acquisition Gains Support from GOP Lawmakers and Advocacy Groups Despite FTC Resistance
Portfolio Pulse from Vandana Singh
Illumina's acquisition of Grail gains support from GOP lawmakers, state attorneys general, and advocacy groups despite FTC resistance. They filed 14 amicus briefs urging the U.S. 5th Circuit Court of Appeals to reverse the FTC's order, arguing that the FTC exceeded its authority and highlighting the value of Grail's early cancer screening test.
June 14, 2023 | 4:15 pm
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Illumina's Grail acquisition gains support from GOP lawmakers and advocacy groups despite FTC resistance. They argue that the FTC exceeded its authority and highlight the value of Grail's early cancer screening test.
The support from GOP lawmakers, state attorneys general, and advocacy groups for Illumina's Grail acquisition may help the company in its legal battle against the FTC. However, the outcome of the case is still uncertain, and the acquisition has faced significant opposition, including from the European Commission. Therefore, the short-term impact on Illumina's stock price is neutral.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100