Syngenta and DuPont Agree on Technology Exchange to Launch New Fungicide
BASEL, Switzerland and WILMINGTON, Delaware, May 14, 2013
BASEL, Switzerland and WILMINGTON, Delaware, May 14, 2013 /PRNewswire/ --
Syngenta and DuPont today announced technology licensing agreements that will
broaden each company's crop protection product portfolio and enable both to
bring new products to market more efficiently.
Syngenta has obtained a global license from DuPont to develop products
containing DuPont's fungicide oxathiapiprolin. The development of this new
piperidinyl thiazole isoxazoline class of fungicides represents a significant
improvement for growers in the control of diseases in potatoes, grapes,
vegetables and other specialty crops.
Under the agreements, Syngenta receives exclusive rights for foliar and soil
uses on all crops in North America and for lawn and garden uses globally.
Syngenta also secures rights on certain crops for seed treatment globally and
for the development of foliar and soil uses on certain crops outside of North
The agreement gives DuPont exclusive access to Syngenta's Solatenol™for
mixture with DuPont's picoxystrobin fungicide on soybean and other crops in
Brazil. Solatenol™ is a new benz-pyrazole SDHI fungicide which brings a new
mode of action with no cross-resistance to existing fungicides. It offers
outstanding and long-lasting control of Asian rust in soybean.
"These agreements again demonstrate DuPont Crop Protection's commitment to our
customers by collaborating to deliver innovative products from our robust
pipeline while always focusing on sustainability and maximizing shareholder
value," said Rik Miller, president DuPont Crop Protection. "This decision
enables DuPont to provide solutions that will help our customers improve their
productivity and profitability now and in the future."
Syngenta's Chief Operating Officer John Atkin said: "Access to oxathiapiprolin
will further broaden our world-leading fungicide portfolio. Diverse modes of
action are critical for disease control and to sustain the lifecycle of
existing products in the face of resistance challenges. We are also pleased
that this agreement will contribute to maximizing the market coverage of
Solatenol™ in Brazil."
The transaction is subject to approvals from applicable regulatory
authorities. Financial terms of the agreement were not disclosed.
Syngenta is one of the world's leading companies with more than 27,000
employees in over 90countries dedicated to our purpose: Bringing plant
potential to life. Through world-class science, global reach and commitment to
our customers we help to increase crop productivity, protect the environment
and improve health and quality of life. For more information about us please
go to http://www.syngenta.com
SOLATENOL™ is a trademark of a Syngenta Group Company
DuPont (NYSE: DD) has been bringing world-class science and engineering to the
global marketplace in the form of innovative products, materials, and services
since 1802. The company believes that by collaborating with customers,
governments, NGOs, and thought leaders we can help find solutions to such
global challenges as providing enough healthy food for people everywhere,
decreasing dependence on fossil fuels, and protecting life and the
environment. For additional information about DuPont and its commitment to
inclusive innovation, please visit http://www.dupont.com.
The DuPont Oval Logo, DuPont™, The miracles of science™, are registered
trademarks of DuPont or its affiliates.
Cautionary Statement Regarding Forward-Looking Statements
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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
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differ materially from those stated. These factors include, but are not
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including inflation, interest and foreign currency exchange rates, of
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development of new products, including regulatory approval and market
acceptance; seasonality of sales of agricultural products; and severe weather
events that cause business interruptions, including plant and power outages,
or disruptions in supplier and customer operations. The company undertakes no
duty to update any forward-looking statements as a result of future
developments or new information.
Syngenta Media contact:
Syngenta Analyst/Investor contact:
10^th & Market Streets
DuPont Media contact:
Gregg M. Schmidt
DuPont Analyst/Investor contact:
Timothy A. Johnson
SOURCE SYNGENTA CROP PROTECTION AG
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