Illumina falls amid reports of an EU order to sell Grail
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EU antitrust officials will order Illumina (NASDAQ:ILMN) to sell its Grail unit, marking another penalty against the U.S. gene sequencing company for its 2021 acquisition of the cancer test developer despite regulatory scrutiny, The Financial Times reported Monday. 
Illumina (ILMN) was trading lower in the pre-market after three consecutive sessions of gains in reaction. 

An order from Brussels is expected as early as next week, people with direct knowledge of the matter said, while another added that the timeline could delay.
âThey bought something illegally and now they need to sell it,â one person noted. According to the people, the San Diego, California-based life sciences company plans to appeal any order to sell Grail, the developer of the Galleri multi-cancer detection test it agreed to acquire for $8B in 2020. 

Illumina (ILMN) and the European Commission refused to comment. In July, the EC imposed a $475M fine on ILMN for closing the GRAIL without regulatory clearance in the European Union.



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