BASF and Monsanto Join Efforts on Biotech Research
March 23, 2007| |
BASF and Monsanto Company have agreed to collaborate on research and development as well as commercialization activities in plant biotechnology. Focus of efforts will be on the development of higher yielding crops that are more tolerant to adverse environmental conditions such as drought. Both companies will contribute budgets that will total about US$1.5 billion. These funds will support research on yield and stress tolerance traits for corn, soybeans, cotton, and canola. The first products from the joint effort are projected to be commercialized in the first half of the next decade.
The complete press release can be found at http://monsanto.mediaroom.com/index.php?s=43&item=470.
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