EU orders biotech giant Illumina to unwind $7.1 billion purchase of cancer-screening company Grail

FILE - European Commissioner for Justice Didier Reynders delivers a speech on the electoral law, the investigative committee and the rule of law in Poland, Wednesday, June 14, 2023 at the European Parliament in Strasbourg, eastern France. The European Union on Thursday, Oct. 12, 2023 ordered U.S. biotech giant Illumina to undo its $7.1 billion purchase of cancer-screening company Grail because it closed the deal without approval of regulators in the 27-nation bloc. (AP Photo/Jean-Francois Badias, File)

BRUSSELS (AP) — The European Union on Thursday ordered U.S. biotech giant Illumina to undo its $7.1 billion purchase of cancer-screening company Grail because it closed the deal without approval of regulators in the 27-nation bloc.

The EU already slapped over the summer for jumping the gun on the acquisition without its consent. Now, the order to unwind the deal “restores competition in the development of early cancer detection tests,†EU antitrust Commissioner Didier Reynders said.

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