Sunday, July 5, 2009

Bayer, Monsanto Ink Cross Licensing Agreement

Canola varieties resistant to both Roundup (glyphosate) and Liberty (glufosinate) herbicides could be available within the next several years after Bayer CropScience and Monsanto announced that they have reached a cross-licensing agreement. Under the terms of the agreement, Monsanto will grant Bayer access to its Genuity Roundup Ready canola trait and Bayer CropScience will grant Monsanto access to its LibertyLink tolerance trait. The agreement, the companies said, "also includes specified rights to access, on a non-exclusive basis, future herbicide tolerance traits and other agronomic traits that may be introduced by either party for use in canola." Further details of the agreement, including the financial terms, were not disclosed.

The media release is available at http://www.bayercropscience.com/bcsweb/cropprotection.nsf/id/EN_20090629?open&l=EN&ccm=500020

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