FTC rules in its own favor and against cancer patients WashTimesOpEd
The FTC’s action was unfortunately unsurprising since commissioners can overrule verdicts in the very cases they choose to prosecute, regardless of the merits of the judge’s thoughtful and reasoned decision. That the ruling was released on the same day that President Biden unveiled the National Cancer Plan as part of his administration’s Cancer Moonshot, focusing in large part on the very multi-cancer detection tests at issue in this case, is a particularly bitter pill for cancer patients.
Illumina’s reacquisition of GRAIL will help bring these lifesaving cancer tests to market faster and to more Americans than GRAIL alone. Importantly, the terms of the purchase guarantee that GRAIL’s tests will be available to both Illumina and its competitors at the same price, which should relieve any concerns about consolidation.
Biotech is a uniquely risky venture. The vast majority of investments fail, primarily due to inherent scientific challenges and exploration of the unknown. If government overreach is now one more hurdle for investors to consider, it will only harm innovative companies’ access to capital, reducing the tools researchers and innovators need to find the next treatment, diagnostic test or cure.
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