December 15, 2010

Syngenta, DuPont seal corn licensing contract

Syngenta and DuPont has closed an agreement that is nearly worth more than US$400 million granting DuPont a worldwide license to a protection against some crop pests.

Syngenta, the world's largest agrochemicals company, will license MIR604 corn rootworm trait to DuPont's business Pioneer Hi-Bred, Syngenta said Tuesday (Dec 14).

The trait, for which the deal was struck, provides protection from below-ground coleopteran insects, including corn rootworm, a major corn pest in the US, it added.

"This rootworm trait provides Pioneer with additional product options for our customers continuing our momentum in the marketplace," Pail Schickler, Pioneer's president, said.

The value of the deal could exceed US$400 million in cumulative payments, Syngenta said but declined to give further details. The licence takes effect in January 2011.