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Bayer, Monsanto cross-license biotechnologies
Seed and chemical industry agreements continue to churn out. This morning, Bayer CropScience and Monsanto announced crop licensing agreements covering new biotechnologies.
Monsanto will provide Bayer CropScience with a royalty-bearing license to Genuity Roundup Ready 2 Yield and Genuity Roundup Ready 2 Xtend technology in soybeans in the United States and Canada. Bayer CropScience also will receive a royalty-bearing license to Intacta RR2 Pro in soybeans in Brazil with an option to a royalty-bearing license in other Latin-American countries in the future. Bayer CropScience has also been granted stacking-rights under certain conditions.
Under the agreements, Bayer CropScience will grant Monsanto licenses to evaluate enabling technologies for corn rootworm control and herbicide tolerance as options for Monsanto’s future pipeline development work.
"We are excited that with the combined technologies from both companies, we will be able to offer farmers additional pest control options and an all-inclusive weed resistance package in soybeans. These will fit nicely with our own technology such as LibertyLink," said Rüdiger Scheitza, Member of the Board of Management of Bayer CropScience and Head of Strategy & Business Management in a press release."
"We’re pleased we have been able to reach an agreement with Bayer CropScience, which will offer increased benefits for farmers and foster continued choice and innovation in our industry," said Brett Begemann, Monsanto President and Chief Commercial Officer in a press release. "This agreement further supports the value of our Genuity Roundup Ready 2 Yield platform as we prepare to enter the next phase of innovation in soybeans with the addition of Intacta RR2 Pro and Genuity Roundup Ready 2 Xtend."
Additional terms and financial details of the agreements were not disclosed.