Monsanto ‘abused’ market dominance in India to inflate GMO seed prices, investigators say

| | May 23, 2019
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This article or excerpt is included in the GLP’s daily curated selection of ideologically diverse news, opinion and analysis of biotechnology innovation.

A probe by the investigations unit of India’s antitrust body has found that Monsanto abused its dominant position as a supplier of genetically modified (GM) cotton seeds in the country, three sources with direct knowledge of the matter told Reuters.

The Competition Commission of India (CCI) in 2016 ordered the unit to carry out the probe after India’s farm ministry and some local seed companies complained that Monsanto was charging unreasonably high royalty fees for its GM technology.

The investigation unit’s report will now be reviewed by senior members of the CCI. The watchdog has powers to impose a penalty of up to 10% of the company’s relevant turnover in the past three financial years if it agrees with the report’s findings.

Related article:  Viewpoint: FDA plan to regulate CRISPR-edited animals as drugs will keep innovative products off the market

Read full, original article: India antitrust probe finds Monsanto abused dominant position: sources

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