German chemical and pharma major Bayer AG, which has acquired biotech company Monsanto …. said it cannot introduce new Bt cotton seed technology in India as it has become difficult to make money in the south Asian nation because of royalty issues.
Monsanto has been selling genetically modified (GM) cotton seeds in India for more than a decade through its joint venture Mahyco Monsanto Biotech that has sub-licensed Bt cotton seed technology to various domestic seed companies. However, the company is now involved in a legal case where it has appealed against the Indian government’s decision to fix the cotton price along with trait value (royalty) under the Cotton Seed Price Control Order.
…. Bob Reiter, Global head of R&D, Crop Science Division of Bayer, emphasized that the company needs to be compensated for investment made in R&D to come up with innovative products.
“The issue around Bt cotton in reality is that as a company we cannot serve a market if that market does not pay for the invention we are trying to bring in. The challenge in India has been that the government has stepped into, I would say, a conflict that started between licensees and [has] become more complex,” Reiter said.
Read full, original article: Can’t introduce Bt cotton tech in India due to royalty issues: Bayer AG