WILMINGTON, Del. and MONHEIM, Germany, June 25 /PRNewswire-FirstCall/ -- DuPont (NYSE: DD) and Bayer CropScience have entered into a series of long-term business agreements related to key plant biotechnology traits and enabling technologies that will help increase agricultural productivity around the world.
These agreements create significant value capture opportunities for both parties through herbicide and seed sales as well as royalties. The agreements establish cross-licenses that will enable next generation seed solutions and weed and insect control strategies from Bayer CropScience and the DuPont Crop Protection and Pioneer Hi-Bred businesses. The agreements also resolve outstanding legal and patent disputes between the companies in the area of insect control and herbicide safeners.
"These agreements are good news for farmers who will benefit from the cross-licensing of innovative technologies from both companies," said James C. Borel, DuPont group vice president. "DuPont and Bayer have a strong history of working together, and these agreements set the stage for additional collaboration between the two companies."
"Growers will benefit worldwide from new herbicide products, new multi-insect-control and multi-herbicide-tolerant products in corn as well as multi-herbicide-tolerant products in soybeans," said Professor Dr. Dr. h.c. Berschauer, chairman of the board of management of Bayer CropScience. "For Bayer CropScience, the agreements provide an excellent basis to further extend the reach and value capture through royalties for our proprietary biotech solutions."
Within the framework of these agreements, Bayer CropScience grants Pioneer licenses to use the LibertyLink(R) trademark in Pioneer proprietary corn and soybean germplasm. In addition, Bayer CropScience will provide Pioneer with
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