Licensing Agreements Reached on Next-Generation Soybean Technologies
By Amanda Brodhagen, Farms.com
DuPont and Monsanto announced a series of technology licensing agreements for soybean technologies on Tuesday.
The agreement includes a multi-year royalty license for Monsanto’s next-generation soybean technologies in the U.S. and Canada. Upon regulatory approvals, this new agreement will allow DuPont Pioneer to offer Genuity® Roundup Ready 2 Yield® soybeans as early as 2014, and Genuity® Roundup Ready 2 Xtend™ glyphosate and dicamba tolerant soybeans as early as 2015.
In addition to offering new products, DuPont will also receive regulatory data rights for soybean and corn traits, and in turn, Monsanto will receive access to some of DuPont Pioneer disease resistance and corn patents.
“This technology exchange helps both companies to expand the range of innovative solutions we can offer farmers, and to do so faster than either of us could alone,” said DuPont Pioneer President Paul E. Schickler in a press release. “The agreements broaden the Pioneer soybean line-up. Importantly, they give us greater flexibility in developing combinations of genetics and traits to help feed an increasingly crowded planet.”
This new collaborative approach will allow both companies to continue to be leaders in the industry and provide farmers with the best products available, as well as strive for innovation in agriculture.
Annual fixed royalties will begin to be paid starting in 2014.