BASF (NYSE: BF) and Monsanto Company (NYSE: MON) have formed a long-term joint research and development (R&D) and commercialization collaboration on GMOs.
They will dedicate a joint budget of about $1.5 billion to fund a dedicated pipeline of yield and stress tolerance traits for corn, soybeans, cotton and canola. The first product developed as part of this collaboration is expected to be commercialized in the first half of the next decade.
Each company will nominate specific candidate genes and the most promising candidates will be advanced for accelerated joint development and for commercialization in the Monsanto pipeline.
The two companies expect to generate a greater number of viable research projects than they could have done on their own, accelerate the development of new products, and bring a greater number of GMOs to the market faster.
The companies will share profits associated with commercialized products on 60/40 basis, with Monsanto receiving 60 percent.
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