摘要：Consolidation in the agricultural biotechnology industry can both enhanceand dampen market competition. This report examines the causes and con-sequences of industry consolidation and its effect on market efficiency. Insome cases, concentration realizes economies of scale, which can improvemarket efficiency by driving down production costs. The protection ofintellectual property rights is integral to the agricultural biotechnologymarketplace, stimulating research and development, investment, and thedevelopment of substitute markets. However, excessively broad intellectualproperty rights can hinder the market for innovation. Recent data on merg-ers, acquisitions, and strategic collaborations in the agricultural biotech-nology industry, as well as the emergence of "life science" conglomerates,indicate some level of consolidation. However, the move by some compa-nies to divest their seed operations calls into question the long-term viabil-ity of these conglomerates.
