Post by
Noteable on Apr 04, 2023 1:02pm
Federal Trade Commission reverses decision on Illumina M&A
April 04, 2023 - " That brings the U.S. government position more in line with the sentiment of its European counterparts. Last Year, EU antitrust regulators had formally objected to Illumina’s pursuit of Grail, though an official divestment order has not yet been issued."
"The $8 billion acquisition deal closed in August 2021 before receiving a final sign-off from regulators. Illumina has maintained that it has kept Grail’s operations at an arms’ length."
https://www.fiercebiotech.com/medtech/ftc-reverses-course-orders-illumina-unravel-grail-buy
This reversal could have significant impact on Pfizer's bid to take-over Seagen for US$43 Billion with the FTC blocking the acquisition, as Merck (MSD) had experienced in an earlier attempt.
The FTC's decision on Illumina postively favors Pfizer's interest in ONCY's pelareorep given Pfizer's plans to develop its SC administered PD-(L)1 immune checkpoint inhibitor (sasanlimab)
Comment by
Noteable on Apr 04, 2023 1:12pm
This development should further raise Pfizer's interest in ONCY, as the company takes an increasing position in the treatment of cancer as their Covid-19 franchise takes a subordinate role.
Comment by
Noteable on Apr 04, 2023 4:47pm
According to the New York Times ..the F.T.C. chair, Lina Kahn, is a leading proponent of the pre-emptive strike policy in merger regulation. If the commission’s challenge is upheld by the courts, big tech giants and other dominant companies could see their acquisition campaigns curbed or face spinoff orders.
Comment by
fox7mf on Apr 04, 2023 5:51pm
The positive right now is Onc only needs like a 10,000% premium on today's SP(cad) to hit a $10b buyout...lol...gotta laugh, I guess. Get to bloody work Coffey!