Biotech Values

[DewDiligence]

FTC seeks to block ILMN-PACB merger:

https://www.wsj.com/articles/federal-trade-commission-challenges-illuminas-proposed-acquisition-of-pacific-biosciences-11576618091

The Federal Trade Commission on Tuesday challenged Illumina Inc.’s. proposed acquisition of Pacific Biosciences of California, a $1.2 billion deal in the life-sciences industry.

The FTC…[alleges] the biotech acquisition would allow Illumina to unlawfully maintain a monopoly in next-generation DNA sequencing by eliminating PacBio as a nascent competitor.

…The commission plans to hold full legal proceedings in its own administrative court but also said it would file a concurrent action in federal court if necessary to block the deal temporarily.