The European Commission imposed maximum disciplinary measures in fining U.S.-based biotechnology company Illumina 432 million euros (U.S. $476 million) regarding its “gun-jumping” merger with cancer detection company Grail.
The penalty, announced July 12, represents the 10 percent of worldwide annual turnover that the European Commission is capable of ordering a company to pay under European Union merger regulations. The commission also levied a “symbolic” fine of €1,000 (U.S. $1,100) against Grail for its involvement.
