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Let's talk antitrust: Discussing recent cases and emerging competition issues
Recent cases and judgments have shone a light on some emerging themes and trends that companies will want to consider as part of their risk management framework.
Food safety
Global | Publication | September 2015
Food Safety Australia New Zealand (FSANZ) has opened submissions into a request by Monsanto Australia (Monsanto) to market (but not cultivate) food based on a genetically modified soybean line, MON-87751. MON-87751 has been genetically engineered to express two proteins, which provide protection from feeding damage caused by particular insects. The GM soybean would be cultivated primarily in South America and imported into Australia.
Monsanto provided detailed evidence to FSANZ regarding the safety of MON- 87751 as well as the composition of soybeans compared to a non- GM soybean (‘A3555’). The major composition analysis focused on components such as fibre, amino acids, minerals, vitamins and antinutrients (compounds which limit absorption of minerals). The analysis revealed that MON-87751 contained significantly higher levels of protein, certain amino acids and phosphorus compared to A3555. There were significantly lower levels of vitamin E and raffinose (a trisaccharide antinutrient) in MON- 87551. However, the levels of these products in MON-87751 were within ranges observed in historical literature. Monsanto therefore concluded equivalence between MON-87551 and A3555. Monsanto concluded that the introduction of food based on a MON- 87551 soybean is unlikely to have much nutritional impact.
FSANZ has suggested that approval of MON-87551 would have minimal impact on consumers given the equivalence to natural soybean, and may have negative cost effects for Government and industry. FSANZ has noted that the potential benefits of approving the variation to the Food Safety Standard outweighs the potential costs, especially since no public health or safety concerns were raised.
MON-87751 has previously received approval from the United States Department of Agriculture and the Canadian Food Inspection Agency and Health Canada. The protective proteins are also expressed on MON-89034, which has previously received FSANZ approval. Submissions are open until 26 August 2015.
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Recent cases and judgments have shone a light on some emerging themes and trends that companies will want to consider as part of their risk management framework.
Publication
After a lacklustre finish to 2022 when compared to the vintage year for M&A that was 2021, dealmakers expected 2023 to see the market continue to cool in most sectors, in response to the economic headwinds of rising inflation (with its corresponding impact on financing costs), declining market valuations, tightening regulatory scrutiny and increasing geopolitical tensions.
Publication
On 18 September 2023, the CMA published its Initial Report (Initial Report) on AI Foundation Models (FM), supplemented in April 2024 with the publication of its “Update Paper” focused on potential antitrust risks associated with FMs and a “Technical Update Report” providing more detail on the development on FMs (collectively the “Reports”). Below, we consider these CMA publications.
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