ST. LOUIS & WILMINGTON, Del.--(BUSINESS WIRE)--May 16, 2018--Corteva Agriscience™, Agriculture Division of DowDuPont (NYSE: DWDP), and Monsanto Company (NYSE: MON) announced today the completion of a licensing agreement for next-generation technology for insect control in corn for the U.S. and Canada that will expand options for farmers fighting corn rootworm, dubbed the “billion dollar bug” for the damage it causes. Corteva Agriscience™ will receive a license to stack Monsanto’s Corn Rootworm III and MON89034 traits with Corteva Agriscience’s insect control traits. This agreement enables the development of the next generation of insect control technology for above- and below-ground insect pests, and will be offered with the Enlist® herbicide tolerant trait for corn. Financial details of the agreement are not being disclosed.
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“This collaboration demonstrates the commitment Corteva Agriscience™ has to bringing greater choice to growers, helping them increase their productivity and profitability,” said Tony Klemm, Global Corn Portfolio Leader, Corteva Agriscience™, Agriculture Division of DowDuPont. “The combination of Corn Rootworm III with Corteva Agriscience’s molecular stack for insect control and the Enlist® corn trait will give our customers the ability to protect yield while extending the durability of industry-leading insect trait technology.”
Monsanto’s broad licensing approach continues to put valuable, cost-effective tools into the hands of farmers when they need them most,” said Calvin Treat, Monsanto’s Global Soy and Corn Technology Lead. “We view this agreement as an endorsement for the novel mode of action that Monsanto’s Corn Rootworm III trait brings to farmers, as it builds on the current products planted today by adding a new RNAi mode of action that enhances effectiveness against one of the industry’s most destructive insect pests. Corn Rootworm III offers increased control and additional durability against the corn rootworm by providing three distinct methods of protection. Through the use of RNAi we’re able to target and control rootworms with a novel mode of action that’s different than the Bt class of proteins that is used in other insect-control products.”
This new next generation product combines Corteva Agriscience’s molecular stack for insect control and Enlist® with Monsanto’s Corn Rootworm III and MON89034 (Bt) to create a broad-spectrum insect control product with multiple modes of action for above- and below-ground pests. Pending applicable regulatory reviews, it will be offered with the Enlist® tolerant trait for corn, which provides tolerance to new 2,4-D choline, and FOP herbicides in addition to the base glyphosate tolerance. This brings additional benefits to farmers, offering more weed control options and greater flexibility.
About Monsanto Company
Monsanto is committed to bringing a broad range of solutions to help nourish our growing world. We produce seeds for fruits, vegetables and key crops - such as corn, soybeans, and cotton - that help farmers have better harvests while using water and other important resources more efficiently. We work to find sustainable solutions for soil health, help farmers use data to improve farming practices and conserve natural resources, and provide crop protection products to minimize damage from pests and disease. Through programs and partnerships, we collaborate with farmers, researchers, nonprofit organizations, universities and others to help tackle some of the world’s biggest challenges. To learn more about Monsanto, our commitments and our more than 20,000 dedicated employees, please visit monsanto.com. Follow our business on Twitter ® at twitter.com/MonsantoCo.
About Corteva Agriscience ™ , Agriculture Division of DowDuPont
Corteva Agriscience ™, Agriculture Division of DowDuPont (NYSE: DWDP), is intended to become an independent, publicly traded company when the previously announced spinoff is complete by June 2019. The division combines the strengths of DuPont Pioneer, DuPont Crop Protection and Dow AgroSciences. Corteva Agriscience ™ provides growers around the world with the most complete portfolio in the industry — including some of the most recognized brands in agriculture: Pioneer ®, Encirca ®, the newly launched Brevant ™ Seeds, as well as award-winning Crop Protection products — while bringing new products to market through our solid pipeline of active chemistry and technologies. More information can be found at www.corteva.com. Follow Corteva Agriscience™, Agriculture Division of DowDuPont, on Facebook, Instagram, LinkedIn, Twitter and YouTube.
DowDuPont (NYSE: DWDP) is a holding company comprised of The Dow Chemical Company and DuPont with the intent to form strong, independent, publicly traded companies in agriculture, materials science and specialty products sectors that will lead their respective industries through productive, science-based innovation to meet the needs of customers and help solve global challenges. For more information, please visit us at .
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Certain statements contained in this release are “forward-looking statements,” such as statements concerning the company’s anticipated financial results, current and future product performance, regulatory approvals, business and financial plans and other non-historical facts, as well as the pending transaction with Bayer Aktiengesellschaft (“Bayer”). These statements are based on current expectations and currently available information. However, since these statements are based on factors that involve risks and uncertainties, the company’s actual performance and results may differ materially from those described or implied by such forward-looking statements. Factors that could cause or contribute to such differences include, among others: risks related to the pending transaction between the company and Bayer, including the risk that the regulatory approvals required for the transaction may not be obtained on the anticipated terms or time frame or at all, the risk that the other conditions to the completion of the transaction may not be satisfied, the risk that disruptions or uncertainties related to the pending transaction could adversely affect the company’s business, financial performance and/or relationships with third parties, and the risk that certain contractual restrictions during the pendency of the transaction could adversely affect the company’s ability to pursue business opportunities or strategic transactions; continued competition in seeds, traits and agricultural chemicals; the company's exposure to various contingencies, including those related to intellectual property protection, regulatory compliance and the speed with which approvals are received, and public understanding and acceptance of our biotechnology and other agricultural products; the success of the company's research and development activities; the outcomes of major lawsuits, including potential litigation related to the pending transaction with Bayer; developments related to foreign currencies and economies; fluctuations in commodity prices; compliance with regulations affecting our manufacturing; the accuracy of the company's estimates related to distribution inventory levels; the levels of indebtedness, continued availability of capital and financing and rating agency actions; the company's ability to fund its short-term financing needs and to obtain payment for the products that it sells; the effect of weather conditions, natural disasters, accidents, and security breaches, including cybersecurity incidents, on the agriculture business or the company's facilities; and other risks and factors detailed in the company's most recent periodic report to the SEC. Undue reliance should not be placed on these forward-looking statements, which are current only as of the date of this release. The company disclaims any current intention or obligation to update any forward-looking statements or any of the factors that may affect actual results.
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Christi Dixon, 314-694-1092
Gregg M. Schmidt, 302-996-8368
KEYWORD: UNITED STATES NORTH AMERICA DELAWARE MISSOURI
INDUSTRY KEYWORD: MANUFACTURING CHEMICALS/PLASTICS NATURAL RESOURCES AGRICULTURE
SOURCE: Monsanto Company
Copyright Business Wire 2018.
PUB: 05/16/2018 02:30 PM/DISC: 05/16/2018 02:30 PM