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Biotech firms face global legal suit

13 September 1999
Biotech firms face global legal suit

LIFE science companies and grain processors face one the biggest anti-trust suits ever brought, according to the front-page story in the Financial Times.…more…

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Biotech firms face global legal suit

13 September 1999
Biotech firms face global legal suit

LIFE science companies and grain processors face one the biggest anti-trust suits ever brought, according to the front-page story in the Financial Times.

The unprecedented litigation will claim the companies are exploiting bioengineering techniques to gain a stranglehold on agricultural markets.

The legal action will be launched in 30 countries against countries such as Monsanto, Novartis and DuPont.

It is being brought jointly by the Foundation on Economic Trends, run by the American biotech activist Jeremy Rifkin, and the US-based National Family Farm Coalition.

The move comes amid increasing concern about the dominant market position of some of main companies in the market.

Ten companies now own 30% of the $23bn annual commercial seed trade, according to recent estimates.

Five of that ten — Monsanto, Novartis, AstraZeneca, Aventis and DuPont — control virtually all GM crops.

  • Financial Times 13/09/99 page 1, page 4
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