Monsanto Signs Deal With Rival Dow

1 decade 3 years 7 months ago Wednesday, April 05 2006 Apr 5, 2006 Wednesday, April 05, 2006 1:06:41 PM CDT April 05, 2006 in News
St. Louis-based Monsanto says it has reached an agreement with competitor Dow Chemical of Midland, Michigan, that will allow the companies to share patented genes in different strains of corn, soybeans and cotton. The companies didn't release financial terms of the agreement, but they agreed to end litigation over the patented BT gene that makes corn resistant to insects. Analysts say it should help both firms by ending costly lawsuits and increasing their new technologies. The deal will increase competition for Pioneer Hi-Bred, the second-biggest biotech crop company after Monsanto. Pioneer is a division of DuPont, based in Wilmington, Delaware.

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