Description
New Age International (P) Ltd., Publishers Economics Of Biotechnology by Dr. T. V. S. Ramamohan Rao
Modern biotechnology has come into prominence since 1980. It relates to a set of techniques that involve manipulation or change of the genetic inheritance of living organisms including plants. The primary advantage of this technology is that it can target drugs and pesticides to the exact location of the human body or plants where they are needed. The cost of application as well as the side effects can be minimized if this technology is utilized. It is also advantageous in so far as random trials on chemicals to develop drugs and hit and fail methods of conventional plant breeding can be avoided. Economics of Biotechnology deals with the organizational mechanisms to accelerate developments in biotechnology, the patents and IPRs necessary to obtain the requisite R&D and compensate the entrepreneurs, and the emerging markets for products of biotechnology and their pricing. It also deals with the implications of modern biotechnology for biodiversity and biosafety and the enabling and regulatory role of the government in its development. Thus the book makes an attempt to introduce the reader to the economics underlying what promises to be the technology of the 21st century.