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Roundup Ready® Soybean Post-Patent Regulatory Commitment Extended through 2021
12.07.2010 09:15 "Agro Perspectiva" (Kyiv) —
In December 2009, we communicated our plans for the Roundup Ready® soybean patent expiration in 2014. This included continuing global regulatory approvals through 2017. Since the announcement, we have worked with our licensees, our customers and the industry to develop further plans. Based on these conversations, we are extending this regulatory commitment through 2021.
International regulatory approvals for biotechnology products are important for farmers because much of the grain they produce and sell is exported. By granting regulatory approval, countries are recognizing that the product is safe for food and feed use — and therefore can be imported.
Having international regulatory approvals in place allows farmers to plant, harvest and ship their product around the world without disruption. Without these approvals, farmers have fewer markets to sell their grain to — and therefore lower profit potential.
By maintaining the Roundup Ready soybean regulatory approvals in other countries through 2021, Monsanto is enabling farmers who continue to plant that technology post-patent to have access to broadly market their grain for many more years.
It also gives farmers and the industry more than a decade to develop plans and mechanisms to assure continuing import approval support in export markets beyond 2021. The first-generation Roundup Ready soybean technology is the first of several technologies developed by Monsanto and other trait providers that will be coming off patent within the next decade.
On average, Monsanto spends $1–1.5 million per year to maintain global regulatory approvals for a product. Therefore, maintaining regulatory approvals for off-patent products will be a significant financial commitment for companies and trait developers that continue to market these products in the future. Over the next months, Monsanto is committed to working through BIO with our customers, our licensees, other biotechnology trait developers and stakeholders to determine the most-effective management approach for future off-patent technologies.
24.11.2024 |
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11:35 |
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30.08.2024 |
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09:15 |
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12:31 |
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