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Biotech crops fall from favor as seed firms prune launches
Washington reports biotech crop developers have fewer new varieties due to weak farm economy and public resistance. In 1999 six applications sought approval, the fewest since 1993, with four withdrawals by year end. Only one filed this year. By contrast 1997 saw 14 and 1998 saw nine approvals, with four denials. Analyst Alex Hittle warns stock prices suffer when pursuing biotech approvals.
MENTIONED IN THIS ARTICLE
Washington
Agriculture Department
Alex Hittle
A.G. Edwards and Sons Inc
USDA
Pioneer and
Dow Chemical Co
DNA Plant Technology
Monsanto
Daniel Verakis