Nov. 14, 2016
Bayer group, which has entered a global agreement to acquire Monsanto, has indicated that it would want to continue with fresh research in countries like India.
Richard van der Merwe is the vice-chairman, managing director, and CEO of Bayer CropScience said, “IP rights protection is very important for promoting research in life science and crop science segment.”
Monsanto India had recently said it would put off further research in genetically modified seeds technology after a disagreement with the government over licenses for BT Cotton seeds and controlled trait fee. Monsanto India has termed the government move as anti-intellectual property.
In a conversation with Business standard after inaugurating an exhibition — Science For A Better Life Tour — in Mumbai, Merwe said, “Spurious agro chemical is a big challenge, not only in India but in countries like Russia, South Africa, and others, and we have sought the support of the government to meet this challenge. Bio diversity is damaged chiefly because of use of spurious agro chemicals.”
Bayer group is setting up a new plant at Vapi in Gujarat with €30-million fresh investments. The plant is likely to go on stream in June 2017.
On merger with Monsanto, which was announced three months ago, he said “that is a part of global exercise and requires approval of 30 different jurisdictions. In India, we have applied to the Competition Commission of India for approval for merger of Indian businesses of both companies. We hope to complete merger process by end of next year.”
“So far as merging Monsanto is concerned, there is hardly any overlapping in businesses,” he added.