Friday, May 23, 2008
Syngenta and Monsanto reach agreement
by Farm and Dairy Staff
BASEL, Switzerland — Syngenta 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
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.
Disputes
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.
