Some good news, for a change:
Monsanto and Dow AgroSciences Announce Agreement on Glyphosate And Roundup Ready Crops
ST.LOUIS and INDIANAPOLIS, Jan. 19 /PRNewswire/ -- Dow AgroSciences LLC and Monsanto Company (NYSE: MTC) today announced a global, multi-year, toll manufacturing agreement that also licenses Dow AgroSciences the rights to Monsanto's glyphosate herbicide registration data. The agreement will allow Dow AgroSciences to register its own brand of glyphosate herbicide for sale globally. However, Dow AgroSciences will not be able to reference Monsanto data when registering its products for use in Japan.
Additionally, the agreement allows Dow AgroSciences to use its own brand of glyphosate herbicide over the top of Roundup Ready soybeans and cotton in the year 2000 in the United States, and beginning in 2001, over the top of Roundup Ready corn in the United States.
The agreement does not include lawn and garden uses.
Monsanto's Roundup and Roundup Ultra herbicides, which include the active ingredient glyphosate, and Dow AgroSciences glyphosate brand(s) will compete with each other in the agricultural marketplace.
As a life sciences company, Monsanto is committed to finding solutions to the growing global needs for food and health by sharing common forms of science and technology among agriculture, nutrition and health. The company's 30,000 employees worldwide make and market high-value agricultural products, pharmaceuticals and food ingredients.
Dow AgroSciences LLC, based in Indianapolis, Ind., is a global leader in providing pest management and biotechnology products that improve the quality and quantity of the earth's food supply and contribute to the safety, health and quality of life of the world's growing population. The company employs more than 3,000 people in over 50 countries and has worldwide sales of more than $2 billion. Dow AgroSciences is a wholly owned subsidiary of The Dow Chemical Company.
This press release contains certain forward-looking statements, including those related to the market for and sales of Roundup Ultra herbicide. These forward-looking statements are based on past experience and current expectations, but actual results may differ materially from those anticipated and there can be no guarantee that future results will be similar to those of the past. Certain factors which could cause actual results to differ materially from expected and historical results include: weather; price; new use; patent expiration; local farming practices; local economic conditions; the type of crops planted; and the availability, price and desirability of competitive products; as well as economic, competitive, governmental, intellectual property, technological and other factors identified in Monsanto Company's Form 10-K and Form 10-Q filings with the Securities and Exchange Commission.
SOURCE Monsanto Company
CO: Monsanto Company; Dow AgroSciences LLC
ST: Missouri
IN: CHM AGR
SU:
01/19/99 08:01 EST prnewswire.com |
