Regulatory approval times for genetically modified (GM) crops are increasing in many countries. The impact of unjustified regulatory delays due to inefficiencies, lack of coordination or unnecessary and redundant requirements can be devastating. Regulatory delays may especially affect the public sector and international R&D investments which are particularly intended to address needs in developing countries.
The study sought to analyze the economic impact of regulatory delays for GM crops. The authors concluded in their study that longer regulatory delays are associated with higher investment risk which could discourage investors to invest in the development of a GM crop. Results of the analysis emphasize the need for regulators, decision-makers, and developers to reduce time delays and increase the efficiency of coordinating decision points along the product development cycle — for R&D, regulatory review, and compliance to optimize costs and time in delivering a product.