Corteva (CTVA) and FMC (FMC) said late Tuesday they have entered a co-exclusive supply and licensing agreement to expand access to FMC's rimisoxafen herbicide technology across North and South American corn and soybean markets.
Under the agreement, FMC will retain ownership of rimisoxafen and supply the active ingredient to Corteva, while both companies develop and market their own premix formulations, the companies said.
As part of the deal, which extends through the next decade, Corteva will make an initial prepurchase payment of $200 million for product to be supplied by FMC, according to a joint statement.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments