BASF and Monsanto expand green GMO alliance
Limburgerhof/ St. Louis - To improve crop yield, US and European agrobiotech giants Monsanto and BASF will expand their development and commercialisation alliance aimed at developing higher- yielding and stress-tolerant crops. In addition to their US$1.5bn collaboration agreement of 2007, which comprised genetically engineered maize, soy, cotton and canola, they will also optimise wheat. The companies announced that investments into R&D could amount up to $1billion over the life of the collaboration. The terms of the original collaboration will apply also to the extension: Each company will run independent trait discovery programmes and will propose specific candidate genes. Projects will be jointly funded through each phase of development, and products that emerge from the joint development will be commercialised by Monsanto. The profits associated with commercialised products will be shared, with Monsanto receiving 60 percent of net profits and BASF receiving
40 percent of net profits.