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Republican lawmakers, state attorneys general, and several advocacy groups have voiced support by Illumina repurchase developer of the Grail . cancer test while the Federal Trade Commission fight to relax agree.
Groups filed 14 amicus briefs on Monday calling for the 5th U.S. Court of Appeals to reverse a command FTC that would lead Illumina to cancel the $7.1 billion Holy Grail deal over concerns it would stifle competition. Last week, the San Diego-based DNA sequencing company appeal agency judgment.
Supporters of the deal argue in court filings that the FTC exceeded its authority in trying to untie the tie that closed nearly two years ago. They added that preventing companies from merging could harm the development of life-saving technology.
“Irresponsible federal agency power undermines liberties, and the agency’s excessive, unfair enforcement impedes technological advances that benefit the people,” the attorney general from 12 states said in one of the summaries.
Those states are Alaska, Arkansas, Georgia, Idaho, Indiana, Iowa, Kentucky, Louisiana, Nebraska, South Carolina, Utah, and Virginia.
Thirty-four Republican lawmakers tout Grail’s early screening test, can detect more than 50 types of cancer through just one blood draw. The test is not approved by the Food and Drug Administration, but it has garnered limited sales over the past year.
The lawmakers argued that Grail needed Illumina to obtain regulatory approval and commercialize trial production, which are “required steps to bring the full benefit of these trials to the public.” them and detect cancer as quickly as possible.”
The FTC declined to comment on the filing.
The deal was met with widespread opposition. Last year, the executive body of the European Union, the European Commission, blocked the acquisition cited similar competitive concerns. Illumina appealed that order.
And active investor Carl IcahnIllumina, who holds a 1.4% stake in Illumina, launched a proxy war with the company over the Holy Grail deal.
Illumina shareholders voted to remove the chairman of the board late last month. Company CEO Francis deSouza step down on Sunday after weeks of backlash from Icahn.
Icahn’s objections stemmed from Illumina’s decision to close the acquisition without prior approval from antitrust regulators.
