Illumina to appeal FTC decision in federal court

Illumina announced that it will appeal the Federal Trade Commission’s decision ordering the unwinding of Illumina’s acquisition of GRAIL. Illumina intends to file a petition for review promptly with a US Court of Appeals and will seek expedited treatment of the appeal. The FTC’s order to unwind the acquisition will be automatically stayed pending appeal. "Following the FTC Chief Administrative Law Judge’s decision in favor of Illumina in September 2022, Illumina believes that it has a strong case on appeal. Illumina will move as quickly as possible and seeks to arrive at a resolution in the US Court of Appeals by late 2023 or early 2024, at approximately the same time as the decision in the European Court of Justice jurisdictional appeal. Winning both appeals would maximize value for shareholders. It enables Illumina to expand the availability, affordability and profitability of the groundbreaking Galleri test in the $44-plus billion multi-cancer screening market. It also protects Illumina’s ability to optimize a future divesture should that be in the best interest of shareholders. If Illumina does not prevail in this appeal or the ECJ jurisdictional appeal, the company expects to move expeditiously to divest GRAIL in a manner that serves the best interests of Illumina’s shareholders."