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CMA says Illumina-Pacific Biosciences deal could hurt competition

CMA says Illumina-Pacific Biosciences deal could hurt competition
FILE PHOTO: The offices of gene sequencing company Illumina Inc are shown in San Diego, California January 11, 2016. REUTERS/Mike Blake   -  
Mike Blake(Reuters)
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(Reuters) – Britain’s competition watchdog said on Tuesday the planned $1.2 billion (£958 million) merger between gene sequencing company Illumina Inc and smaller rival Pacific Biosciences of California Inc may result in lessening of competition in the UK.

The Competition and Markets Authority (CMA), expressing concerns about the deal’s impact on the supply of specialist DNA sequencing systems in the UK, said the companies have until next week to respond to questions that it has raised.

Concerns over the Illumina-Pacific Biosciences deal include higher prices or lower quality products and less innovation in the market, the CMA said.

(Reporting by Yadarisa Shabong in Bengaluru; Editing by Shinjini Ganguli)

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