Bayer CropScience is changing from a producer of crop protection products to a biotechnology and seed breeding group. CEO Helmut Schramm announced that the company will increase its research and development allocation to enable genetic engineering and breeding efforts.
Biotech research will account for 50 percent of its total research activities. Over 850 million € is expected to be spent on biotech research.
The company will strengthen its presence in Brazil, Russia, India and China. The acceptance of biotech in Europe, according to Schramm is only "a matter of time."
See the original article in German at http://www.agrarheute.com/bayer-cropscience.