ArborGen may be able to get its cold-tolerant eucalyptus to U.S. market sooner than expected after USDA's APHIS cuts timeline in approval process of biotechnology products from three years to 13-16 months
March 16, 2012
– ArborGen might be able to get its cold-tolerant eucalyptus product to the U.S. market sooner than expected after U.S. officials cut the timeline in the approval process of biotechnology products, The National Business Review reported March 16.
The timeline for such products to come to the U.S. market will be cut to between 13-16 months from three years per petition after the U.S. Department of Agriculture’s Animal and Plant Health Inspection Service outlined new processes to determine whether biotech products should be approved for commercial use.
The change means that, provided it secures all of the appropriate approvals, ArborGen could get its product to market earlier than expected.
ArborGen wants to bring genetically-modified eucalyptus trees to market to enable production of the hardwood for pulp and biofuel in managed plantations in the southeastern U.S. Since 2006, the company has been selling varietal pine seedlings.
ArborGen was forced to abandon plans for an initial public offering last year as U.S. financial markets struggled to recover amid the global financial crisis.
The primary source of this article is The National Business Review, Auckland, New Zealand, on March 16, 2012.