Syngenta and DuPont have announced an agreement that will broaden each company's crop protection product offer.
Syngenta acquired an exclusive worldwide license to develop DuPont's new insecticide Rynaxypyr in mixtures with its own leading insect control products. Rynaxypyr is a chemical of the bisamide class characterized by unique systemic properties and outstanding activity on all major lepidoptera pests.
DuPont will continue its commercialization plan for straight Rynaxypyr.
DuPont Crop Protection acquired worldwide rights to Syngenta's strobilurin fungicide picoxystrobin, sold as Acanto, including access to companion products used in mixtures. Acanto is currently marketed in Europe on cereals and will be expanded for use on soybeans in Latin America.
The transactions are subject to certain national regulatory approvals. Financial terms were not disclosed.
John Atkin, chief operating officer, Syngenta Crop Protection, said: “This agreement gives Syngenta access to a novel class of chemistry that will set new standards in lepidoptera control. Combinations of Rynaxypyr with our modern insecticides will provide new broad-spectrum solutions in the global insecticide market estimated at around $7 billion. First launches are targeted for 2009. We shall continue to expand our industry-leading position in fungicides led by Amistar and its range of combination products.”
James C. Collins, vice-president and general manager of DuPont Crop Protection, commented: “These agreements further enhance our position in the global fungicide market estimated at around $7 billion. With picoxystrobin, DuPont fills a gap and gains access to major fungicide customers and markets in the EU, Latin America and later in the United States. In insecticides, the agreement we have reached with Syngenta will allow us to expand and accelerate the market potential for our new cutting edge technology.”
Further information is available at http://www.syngenta.com.