Scott, Mississippi
January 4, 2000
Delta and Pine Land Company
announced today that it has reached an agreement with Monsanto Company
to modify the Bollgard and Roundup Ready gene technology license agreements. The modified agreements
eliminate the minimum royalty payments and additional royalties required to be paid to Monsanto by
Delta Pine if Delta Pine commercializes cottonseed that contain non-Monsanto technologies.
In addition, the modifications permit Delta Pine to combine in its cottonseed varieties
technologies acquired or licensed from third parties with Monsanto technologies. Delta Pine's rights to Monsanto's
existing technology under these agreements, as well as access to future Monsanto technologies, remain
unchanged.
"We are pleased to have reached this agreement with Monsanto,'' said Roger D. Malkin, Chairman and
Chief Executive Officer of Delta and Pine Land Company. "These changes will enhance Delta Pine's
ability to evaluate and commercialize technologies from other providers without having to pay additional
royalties to Monsanto. At the same time, Delta Pine and Monsanto continue substantive negotiations
with respect to issues Delta Pine has raised arising out of the May 8, 1998 Merger Agreement.''
Delta and Pine Land Company is a commercial breeder, producer and marketer of cotton planting seed.
Headquartered in Scott, Mississippi, with offices and facilities in seven states and several foreign
countries, DLP also breeds, produces and markets soybean planting seed.
Company news release
N2366 |