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BASF & Monsanto to focus on Plant Biotechnology

21
Mar '07
BASF and Monsanto Company announced a long-term joint research and development (R&D) and commercialization collaboration in plant biotechnology that will focus on the development of high yielding crops and crops that are more tolerant to adverse environmental conditions such as drought. The collaboration is effective immediately.

Over the life of the collaboration, the two companies will dedicate a joint budget of potentially $1.5 billion/€1.2 billion to fund a dedicated pipeline of yield and stress tolerance traits for corn, soybeans, cotton and canola. The joint pipeline will include the companies' existing and planned yield and stress tolerance programs and be comprised of projects generated by independent plant biotechnology discovery and research from each company. The first product developed as part of this collaboration is expected to be commercialized in the first half of the next decade.

“We are pleased to be able to work with BASF in order to enhance our ability to identify and commercialize new traits that have the potential to bring substantial value to farmers,” said Robb Fraley, Chief Technology Officer and Executive Vice President of Monsanto.

“By broadening the pipeline of potential traits, exchanging technology and sharing risk, this collaboration can accelerate the discovery of next-generation technologies for the farm and effectively double the risk-adjusted net present value of Monsanto's yield and stress trait technology pipeline.”


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