AG BIOTECH FOOD : RISKY OR RISK FREE?

Agricultural biotechnology ranks high among corporate gambles. Monsanto, DuPont, Novartis, and Dow Chemical have wagered billions of dollars in acquisitions and R&D. Entirely new companies are forming around the promise of the life sciences, and they are building growth strategies with the tools of genetic engineering. In just a few years, emerging technologies and new corporate structures have dramatically altered traditional agrochemical and agricultural businesses (C&EN, April 19, page 21). In 1996, Monsanto launched the first major genetically modified crop. Engineered to tolerate the company's Roundup herbicide, Roundup Ready soybeans have made the fastest inroads of any agricultural technology. This year, about 37 million acres or 50% of the U.S. soybean crop was Roundup Ready. Insect-resistant and other modified corn accounts for about 25 million acres, or 33% of the U.S.'s corn acreage. The U.S. has the world's largest crops of soybeans and corn. Nearly 60% of Canada's canola crop and about 90% of...