Illumina Takes a $1.47 Billion Charge Related to Its Spinoff of GRAIL
ILMNIllumina(ILMN) Investopedia·2024-06-28 23:56

Key Takeaways Illumina said it would take a 1.47billiongoodwillimpairmentchargerelatedtoitsspinoffofcancertestingcompanyGRAIL.Illuminaalsosaiditwouldtakea1.47 billion goodwill impairment charge related to its spinoff of cancer testing company GRAIL. Illumina also said it would take a 420 million charge for GRAIL's in-process R&D. Illumina's purchase of GRAIL prior to regulatory approval had been steeped in controversy for years. The breakup with GRAIL (GRAL) was costly for Illumina (ILMN). The gene sequencing company wrote in a regulatory filing Thursday that it would take a $1.47 billion goodwill impairment char ...