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Republican lawmakers, attorneys general and various advocacy groups have expressed support for it from Illumina acquisition of cancer test developer Grail as the Federal Trade Commission fights to undo the deal.
The groups filed 14 amicus briefs on Monday urging the U.S. 5th Circuit Court of Appeals to reverse an FTC order ordering Illumina to undo the $7.1 billion Grail deal over concerns it is stifling competition . Last week, the San Diego-based DNA sequencing company appeal filed the ruling of the office.
Proponents of the deal argued in the court documents that the FTC overstepped its authority by attempting to dissolve the bond that closed nearly two years ago. They added that blocking the companies’ merger could hurt the development of life-saving technology.
“Irresponsible federal agency power undermines freedom, and overzealous, unfair enforcement by agencies hinders technological advancements that benefit the well-being of citizens,” attorneys generals of 12 states said in one of the briefings.
Those states are Alaska, Arkansas, Georgia, Idaho, Indiana, Iowa, Kentucky, Louisiana, Nebraska, South Carolina, Utah, and Virginia.
Thirty-four Republican lawmakers praised Grail’s early screening test, which can detect more than 50 types of cancer through a single blood draw. The test has not been approved by the Food and Drug Administration, but has had limited sales in the past year.
Grail needs Illumina to obtain regulatory approval and commercialize production of the test, which are “steps required to deliver the full benefits of these tests to the public and detect cancer as quickly as possible,” the researchers argued. legislators.
The FTC declined to comment on the documents.
The deal was met with widespread opposition. Last year, the executive body of the European Union, the European Commission, blocked the acquisition citing similar competition concerns. Illumina has appealed that order.
And activist investor Carl Icahn, who has a 1.4% stake in Illumina, launched a proxy battle with the company over the Grail deal.
Illumina shareholders voted late last month to impeach its chairman of the board. The company’s CEO, Francis deSouza, resigned on Sunday after weeks of stiff opposition from Icahn.
Icahn’s opposition stemmed from Illumina’s decision to complete the acquisition without first getting approval from antitrust regulators.