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Comment: Illumina-Grail’s EU veto sees return of the innovation theory of harm

The EU’s Illumina-Grail merger review has been a procedural rollercoaster, and in today’s prohibition, the European Commission also breaks new ground substantively. 

In particular, the case sees the watchdog returning to its innovation theory of harm, this time in a vertical transaction. While the commission insists it’s protecting actual competition, the threat

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