Basel, Switzerland
May 23, 2008
Syngenta today announced that it has reached a definitive
agreement with Monsanto which settles all outstanding litigation
relating to the two companies’ global corn and soybean
businesses.
The agreement gives Syngenta enhanced flexibility in serving its
customers and will expand the technology choices available to
growers. Terms of the agreement include:
- Monsanto receives a
royalty-bearing license to Syngenta’s enabling technology
for dicamba herbicide tolerance.
- Syngenta receives more
favorable marketing conditions relating to its Bt11 trait
for European corn borer control.
- Monsanto and Syngenta
agree to settle all patent, antitrust and commercial
litigation between the companies and their subsidiaries.
These disputes include: Syngenta’s antitrust action against
Monsanto, all infringement cases on herbicide-tolerant and
insect-protected corn technologies, and a dispute between
the parties on herbicide-tolerant soybean technology.
- Syngenta receives a
royalty-bearing license to Monsanto’s Roundup Ready 2 Yield™
soybean technology.
- Monsanto and Syngenta
agree to cross-enable each other to develop and deliver
innovative new herbicide-tolerant and Bt insect-protection
products in corn, cotton and soybeans to compete for the
business of farmers around the world.
Davor Pisk, Chief Operating
Officer of Syngenta Seeds, said: “The need to increase
agricultural productivity has never been greater than it is
today. We are therefore very pleased to have reached an
agreement which expands the choices available across the US corn
and soybean markets.”
Syngenta is a world-leading agribusiness committed to
sustainable agriculture through innovative research and
technology. The company is a leader in crop protection, and
ranks third in the high-value commercial seeds market. Sales in
2007 were approximately $9.2 billion. Syngenta employs over
21,000 people in more than 90 countries. Syngenta is listed on
the Swiss stock exchange (SYNN) and in New York (SYT). |
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