Biopiracy: False Reconciliation
Drug companies know the value of indigenous botanical and medical knowledge. However, they exploit it rather than help ensure its survival.
The article Bioprospecting and Biopiracy in the Americas by Teo Ballvé says:
"A study by ethnobotanist Darrel Posey published in 1990 estimated that the annual world market for medicines derived from medicinal plants discovered from indigenous peoples was $43 billion. However, writes Posey, 'less than 0.001% of the profits from drugs that originated from traditional medicine have ever gone to the indigenous peoples who led researchers to them.'"
A worldwide fight against biopiracy and patents on life by Martin Khor, Director of the Third World Network says:“There is growing worldwide opposition to the granting of patents on biological materials such as genes, plants, animals, and humans….The knowledge and use of biodiversity reside with these farmers and indigenous people who shared their knowledge and plants freely. Yet, through patent applications, companies are now claiming the exclusive right to produce and sell many 'modified' plants and animals.”