- Major international seed companies Monsanto (NYSE:MON), Bayer (OTCPK:BAYRY), Dow Chemical (DOW), DuPont (DD) and Syngenta (NYSE:SYT) form an alliance to oppose the Indian government's proposal that would force them to share their genetically modified crop technology with local players.
- A Bayer exec says no one would invest in research if the proposed introduction of compulsory licensing - which would force a company to share its intellectual property upon government request - is implemented.
- The show of solidarity comes after MON, which pioneered the use of GM cotton in India, withdrew an application for its next-generation product from the approvals process on concerns over the security of its intellectual property.