In Unusual Move, EU Blocks $7B Merger Of 2 American Biotech Firms
A U.S. judge had already approved the merger of Illumina, headquartered in San Diego, and Grail, which is based in Menlo Park, California. The European Union says the deal would stifle innovation in an emerging market for early cancer-detection blood tests, The Wall Street Journal reported.
The Wall Street Journal:
Illumina’s Deal To Buy Cancer-Test Developer Is Blocked By The EU
The European Union blocked Illumina Inc.’s acquisition of cancer-test developer Grail Inc., putting a $7.1 billion merger into jeopardy just days after a U.S. administrative law judge allowed it to go forward. The fate of the acquisition has emerged as an early test case for regulators in the U.S. and EU who have vowed to scrutinize mergers more closely after years allowing many corporate combinations. (Mackrael and Loftus, 9/6)
In other technology news —
Reuters:
Philips Recalls Some Masks Used With Respiratory Devices Over Safety Concerns
The U.S. Food and Drug Administration said on Tuesday that medical device maker Philips has recalled certain masks used with some of its respiratory machines due to potential risk of serious injury. The masks have magnetic headgear clips or straps which can interfere with certain implanted metallic medical devices and metallic objects in the body causing potential injuries or death, the company said. (9/6)
Stat:
Google Debuts A New AI Tool In The Global Fight Against Tuberculosis
Tuberculosis kills 1.4 million people every year, primarily in places where poverty and deprivation conspire to make people uniquely vulnerable, and unable to get lifesaving care in time. (Ross, 9/6)
Stat:
Philip Morris Is Investing Billions In Health Care. Critics Aren't Swayed
Anew health care company was quietly incorporated last month, with plans to leverage cutting-edge inhalation technology and oral delivery expertise to treat everything from neurology to cardiovascular emergencies. (Goldhill, 9/7)
And Elizabeth Holmes wants a new trial —
The Wall Street Journal:
Theranos Founder Elizabeth Holmes Seeks New Trial, Citing Fresh Evidence
Elizabeth Holmes, founder of defunct blood-testing startup Theranos Inc. who was convicted of fraud, has asked a federal judge for a new trial after she said one of the prosecution’s star witnesses visited her house to express regret for his role in her trial, according to a new court filing. Ms. Holmes said in a filing Tuesday that Adam Rosendorff, a former Theranos lab director who testified for five days in her criminal-fraud trial, showed up unannounced at her home Aug. 8. During his visit, Dr. Rosendorff spoke to Ms. Holmes’s partner and said that the government had twisted his testimony that Theranos was “working so hard to do something good and meaningful,” and that he felt guilty “to the point where he had difficulty sleeping,” according to the court filing. (Somerville, 9/6)
