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06-29-2006: Bayer CropScience AG and FMC Corporation announced that Bayer CropScience has acquired the rights to FMC's insecticides discovery pipeline. The agreement enables Bayer CropScience to discover and commercialize new insecticidal compounds from the discovery pipeline. In return FMC will receive royalty and milestone payments on the compounds and access to certain Bayer CropScience products for premixes with FMC products. Financial terms of the transaction were not disclosed.
"We are very much pleased with our alliance with FMC Corporation" said Dr. Alexander Klausener, Head of Research of Bayer CropScience. "The arrangement will strengthen our early discovery pipeline with the aim to create products that meet the demands of our customers. This may be a basis for future collaborative ventures and we expect benefits for both companies."
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