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HomeLatest NewsBrussels fines Ilumina and Grail for "ignoring" the merger veto in Europe

Brussels fines Ilumina and Grail for “ignoring” the merger veto in Europe

Date: April 19, 2024 Time: 03:17:58

The European Commission has announced this Wednesday its decision to fine the biotechnological laboratory Illimina with the maximum possible sanction with 432 million euros and the ‘startup’ Grail for going ahead with its merger despite the fact that the community services vetoed such an operation, at the end that the alliance would jeopardize innovation and competition in the emerging market for early cancer detection tests.

To get to know this situation, from Brussels they have had to carry out rigorous investigations since September of last year, when the Community Executive warned the two companies that merging without waiting for their opinion contravened the regulations since the European Union had previously established .

The inconsistency of these two companies, Ilumina and Grail, made them continue with their project and community services. For their part, in December they opted to formally accuse the companies of violating common law and demanded the dissolution of the merger.

Brussels considers that as a result of this alliance Illumina has been able to exert a “decisive influence” on Grail and, “in fact, it exercised it”, which is why it has now decided to impose a fine of 432 million euros on the laboratory and 1,000 euros on the ‘startup’ absorbed.

Illumina receives a symbolic fine

Union because this base is key in the European competition control system and allows Brussels to act “before structural changes modify the competitive space” in the EU.

In this case, as reported by the community services, Illumina’s action is considered “a very serious infringement” and therefore the maximum sanction allowed by community regulations is imposed, this is 10% of the company’s global turnover. infringing, which in this case increased to 432 million euros.

In the case of Grail, Brussels considers that it had an “active role” by allowing the merger knowing that Illumina did not have the green light for it but has chosen to impose a “symbolic” fine, as it is the first time that action has been taken against it. the company being purchased.

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Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.

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