BASF and Monsanto enter into an R&D agreement

21 March 2007 11:49  [Source: ICIS news]

LONDON (ICIS news)--BASF Plant Science and agro-technology group Monsanto have entered into an agreement to research and develop high-yielding and drought-resistant crops, the companies said in a joint statement on Wednesday.

 

The firms said they would dedicate a potential $1.5bn (€1.1bn) to fund a pipeline of yield and stress-tolerant traits for corn, soybeans, cotton and canola.

 

Products emerging from the joint development would be commercialised by Monsanto, with the US group receiving 60% of net profits and BASF 40%.

 

The first product was expected to be sold in the first half of the next decade.

 

($1 = €0.75)


By: Mark Watts
+44 20 8652 3214



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