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Syngenta, Monsanto settle crop tech dispute

By Associated Press
May 23, 2008 | Comments (0)

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Swiss agrochemicals company Syngenta said Friday it has resolved a legal dispute with U.S.-rival Monsanto Co. over their respective corn and soybean businesses.

Syngenta AG said it will withdraw antitrust and infringement cases related to Monsanto's use of herbicide-tolerant and insect-protected corn technologies, and herbicide-tolerant soybean technology.

In return, St. Louis-based Monsanto will license Syngenta's technology for making crops resistant to the herbicide Dicamba.

Syngenta will also license one of Monsanto's "Roundup Ready" technologies for increasing soybean yield.

The two companies agreed to cooperate in developing new herbicide-tolerant and insect-protection products for the cultivation of corn, cotton and soybeans.

Syngenta shares fell 1.5 percent to 315.25 Swiss francs ($306.72) on Friday in Zurich. Monsanto shares rose 11 cents to $121.45 in New York.

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