Swiss agrochemicals group Syngenta Syngenta and US chemicals giant DuPont today agreed to grant each other access to some crop protection product portfolios and enable them to bring new products to market more efficiently, for undisclosed financial terms.
The companies will share the costs to prepare the regulatory studies for DuPont Cyazypyr, a new broad spectrum insecticide for the control of lepidoptera and sucking pests, leading to expanded global registrations and commercialization opportunities for both companies.
Cyazypyr is complementary to the DuPont Rynaxypyr insect control product that Syngenta is developing in mixtures with its own leading insect control products.
Under the agreement, Syngenta will also grant DuPont access to mesotrione, the active ingredient in Callisto. DuPont will develop mixtures with their proprietary herbicides for use on corn and sugarcane.
"This agreement gives Syngenta access to new chemistry to develop broad spectrum solutions in the global insecticide market, estimated at around $8 billion," said John Atkin, chief operating officer -- Syngenta Crop Protection. "These products, which are highly complementary to our portfolio and pipeline, will provide additional options for growers to better control pests and increase yields. The mesotrione agreement further expands the opportunity for this market-leading technology."
"This is another external acknowledgement of the quality of the DuPont pipeline of crop protection products, as well as an innovative step in the DuPont strategy to bring new pipeline products to our customers faster and with broader labels than ever before," said James C. Collins, vice president and general manager -- DuPont Crop Protection. "This agreement expands our offerings and enables DuPont to make additional investments in our future pipeline to deliver answers that will help our customers improve their productivity and profitability both today and in the future."
Syngenta is a world-leading agribusiness committed to sustainable agriculture through innovative research and technology. The company is a leader in crop protection and ranks third in the high-value commercial seeds market. Sales in 2007 were approximately $9.2 billion. Syngenta employs over 21,000 people in more than 90 countries. Syngenta is listed on the Swiss stock exchange (SYNN) and in New York (SYT). Further information is available at http://www.syngenta.com.
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.