US life sciences company Illumina is likely to face a fine of 10% of its global annual turnover, the maximum penalty, for closing its takeover of Grail without waiting for EU antitrust approval, people familiar with the matter said.
Last month Illumina defended its case before senior European Commission and national competition officials at a closed hearing but failed to convince them, the people said.
Read more: Illumina Heads To Court Over EU Order To Keep Grail Separate
Illumina, which last year set aside $453 million for a potential EU fine, said it would appeal against any fine.
“We disagree that the Commission has jurisdiction to review the GRAIL transaction as well as with the premise of the Commission imposing a fine,” it said in an emailed statement.
“We have appealed the EU’s jurisdiction and will appeal any decision imposing a fine. Illumina’s merger with GRAIL is pro-competitive and in the best interests of patients in Europe and worldwide,” the company added.
