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Pharmaceutical and Industrial Traits in Genetically Modified Crops: Co-existence with Conventional Agriculture AgEcon
Moschini, GianCarlo.
This paper discusses the implications of using genetically modified crops to biomanufacture pharmaceuticals and industrial compounds from the perspective of their co-existence with conventional agriculture. Such plant-made pharmaceuticals and plant-made industrial products rely on exciting scientific and technological breakthroughs and promise new opportunities for the agricultural sector, but they also entail novel risks. The management of the externalities and of the possible unintended economic effects that arise in this context is critical and poses difficult questions for regulators.
Tipo: Working or Discussion Paper Palavras-chave: Agriculture; Biopharming; Co-existence; Externalities; Genetically modified products; Liability; Molecular farming; Regulation; Crop Production/Industries; Research and Development/Tech Change/Emerging Technologies.
Ano: 2006 URL: http://purl.umn.edu/18544
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Valuing Intellectual Property Rights in an Imperfectly Competitive Market: A Biopharming Application AgEcon
Kostandini, Genti; Mills, Bradford F..
Small research firms developing biotechnology applications often focus on establishing intellectual property rights (IPRs), which can then be sold to more established firms with existing market channels. This paper presents a method for valuing the IPRs for an innovation that lowers product production costs below those associated with the patented process of a monopolist. The application to Glucocerebrosidase enzyme from transgenic tobacco suggests an IPRs value of about $1.75 billion. Despite the innovator’s market power, significant surplus gains also accrue to consumers. Further, U.S. antitrust laws that prohibit IPRs acquisition by the current monopolist increase consumer welfare by almost 50%.
Tipo: Journal Article Palavras-chave: Biopharmaceuticals; Biopharming; Economic surplus; Imperfect competition; Intellectual property rights; Agribusiness; Demand and Price Analysis; Financial Economics; Marketing; D23; M13; D43; D60.
Ano: 2009 URL: http://purl.umn.edu/56641
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