DuPont, Dow AgroSciences Agree to Cross License Next-Generation Soybean Herbicide Tolerant Traits
New Traits Enable Farmers to Use More Effective Weed Control Solutions
Wilmington, DE and Indianapolis, IN (Vocus/PRWEB ) November 13, 2009 -- DuPont and Dow AgroSciences, a wholly owned subsidiary of The Dow Chemical Company (NYSE: Dow), announced they have entered into a commercial cross-licensing agreement that will enable the two companies to deliver expanded herbicide-tolerant soybean options to farmers in the next decade.
Under the agreement, Dow AgroSciences is licensing non-exclusively its proprietary herbicide tolerant trait technology for soybeans to DuPont business Pioneer Hi-Bred. In addition, Pioneer is licensing non-exclusively its proprietary Optimum® GAT® trait for soybeans to Dow AgroSciences. Both companies have given the other rights to stack additional traits with their respective technology. Financial details of the agreement were not disclosed.
“This agreement gives us a new weed control option to help our customers meet their individual needs,” said Paul E. Schickler, president -- Pioneer. “Being able to offer farmers specific solutions to weed control is a key part of our Right Product, Right AcreSM strategy.”
Dow AgroSciences expects to submit herbicide-tolerant trait technology data to U.S. regulatory agencies this year. Dow AgroSciences anticipates commercialization early in the next decade pending regulatory authorizations.
“We are excited about the results of our investment in this next generation of technology in soybeans,” said Antonio Galindez, president and CEO -- Dow AgroSciences. “Our new herbicide-tolerant trait technology, in association with other leading weed control systems, offers growers the additional choices, unsurpassed flexibility, convenience and value that contribute to enhanced performance.”
The new herbicide-tolerant trait technology allows growers to continue farming the way they want, but with improved weed control capabilities and performance. The system is designed to provide excellent control of glyphosate-resistant and other hard-to-control broadleaf weeds like morning glory, pigweeds including palmer amaranth, lambsquarters, marestail, waterhemp, giant and common ragweed, and velvetleaf. In anticipation of regulatory approvals for its herbicide-tolerant trait technology, Dow AgroSciences is developing new and improved herbicide solutions based on the proven, trusted 2,4-dichlorophenoxy acetic acid technology growers have used successfully for more than 60 years.
When stacked together, the Optimum® GAT® trait from Pioneer and the new herbicide-tolerant trait technology being developed by Dow AgroSciences would produce soybeans that are tolerant to 2,4-D, glyphosate and ALS herbicides. The Optimum® GAT® trait from Pioneer provides tolerance to glyphosate and the ALS class of herbicides. Optimum® GAT® soybeans have received U.S. regulatory approvals and a 2011 introduction is anticipated upon regulatory approvals in key importing countries. DuPont also anticipates the introduction of five new ALS-based herbicide products for Optimum® GAT® soybeans, including DuPont™ Freestyle™, Trigate™, Traverse™, Instigate™, and Diligent™ herbicides, upon U.S. and state approvals.
Dow AgroSciences LLC, based in Indianapolis, Indiana, USA, is a top-tier agricultural company that combines the power of science and technology with the "Human Element” to constantly improve what is essential to human progress. Dow AgroSciences provides innovative technologies for crop protection, pest and vegetation management, seeds, traits, and agricultural biotechnology to serve the world's growing population. Dow AgroSciences will market this technology in its soybean seed brands including Mycogen, Brodbeck, Dairyland, and Renze. Global sales for Dow AgroSciences, a wholly owned subsidiary of The Dow Chemical Company, are $4.5 billion. Learn more at www.dowagro.com.
Pioneer Hi-Bred, a DuPont business, is the world’s leading source of customized solutions for farmers, livestock producers and grain and oilseed processors. With headquarters in Des Moines, Iowa, Pioneer provides access to advanced plant genetics in nearly 70 countries.
DuPont is a science-based products and services company. Founded in 1802, DuPont puts science to work by creating sustainable solutions essential to a better, safer, healthier life for people everywhere. Operating in more than 70 countries, DuPont offers a wide range of innovative products and services for markets including agriculture and food; building and construction; communications; and transportation.
Forward-Looking Statements: This news release contains forward-looking statements based on management’s current expectations, estimates and projections. The company does not undertake to update any forward-looking statements as a result of future developments or new information. All statements that address expectations or projections about the future, including statements about the company’s strategy for growth, product development, market position, expected expenditures and financial results are forward-looking statements. Some of the forward-looking statements may be identified by words like “expects,” “anticipates,” “plans,” “intends,” “projects,” “indicates,” and similar expressions. These statements are not guarantees of future performance and involve a number of risks, uncertainties and assumptions. Many factors, including those discussed more fully elsewhere in this release and in DuPont’s filings with the Securities and Exchange Commission, particularly its latest annual report on Form 10-K, as well as others, could cause results to differ materially from those stated. These factors include, but are not limited to changes in the laws, regulations, policies and economic conditions of countries in which the company does business; competitive pressures; successful integration of structural changes, including acquisitions, divestitures and alliances; research and development of new products, including regulatory approval and market acceptance, and seasonality of sales of agricultural products.
DuPont
Doyle Karr
515-270-3428
Dow AgroSciences
Robyn Heine
317-337-4807
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