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). Further information is available at www.syngenta.com.