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Meiji Seika Kaisha, Ltd. and BASF Sign Worldwide, Exclusive Insecticide Co-Development Agreement

Wed, 05/26/2010 - 9:28am
1888PressRelease
(1888PressRelease) May 26, 2010 - Under the terms of the agreement, Meiji Seika granted a worldwide, exclusive license (except Japan, Taiwan and South Korea, where Meiji Seika will hold the exclusive license) to BASF to develop and commercialize the new insecticide. Further details of the agreement were not disclosed.

Representing both a new class of chemistry and a new mode of action, the insecticide was discovered in a research collaboration between Meiji Seika and The Kitasato Institute. The compound shows significant efficacy for the control of aphids, whiteflies and certain scales, mealy bugs and leaf hoppers, including those that have developed resistance to other insecticides. This new insecticide is expected to be launched in the Japanese market in 2014 and other markets in 2015. It has potential use applications in vegetables, fruit, vine, row crops, and ornamentals, and has shown to be effective as a foliar, seed, and soil applied treatment.

"This agreement combines BASF's global market strength with Meiji Seika's innovation skills, delivering an important and exciting new insecticide innovation to growers around the world," said Markus Heldt, President of BASF Crop Protection division.

This new compound has been evaluated in research trials and is considered a high performance insecticide that ranks low in toxicity to beneficial arthropods, including pollinators, and is an ideal candidate for use in insect resistance management programs, according to researchers at both companies. While significant research on the development of this compound is planned, early results have been promising.

Other features of the compound include low toxicity to the environment, non-target organisms, including other arthropods, and mammals. With global regulatory requirements increasing, the compound is expected to meet evolving regulatory standards that may further restrict or force existing compounds off the market. Meiji Seika will submit the new compound for regulatory approval in Japan in 2012. BASF will submit for regulatory approval in the U.S., Brazil, and EU in 2013, with commercial launch planned for 2015.

About Meiji Seika Kaisha, Ltd.

Meiji Seika Kaisha, Ltd. is a core company of Meiji Holdings Co. Ltd., one of the leading food conglomerates in Japan. Focusing its dedication and dynamism on "food and health" sectors, Meiji Seika is actively developing a wide range of business from confectionaries, foods, dietary and nutritional supplements, pharmaceuticals, crop protection and animal healthcare products, with consolidated sales of \410 billion (€3.4 billion) in fiscal 2009 (April 2009 to March 2010). Meiji Seika started its crop protection business in 1961. Since then the business has been expanding to post the sales of around \10 billion (€83 million), providing reliable and well-reputed herbicides, pesticides and insecticides. Further information on Meiji Seika is available on the Internet at http://www.meiji.co.jp/en/index.html

About BASF

BASF is the world's leading chemical company: The Chemical Company. Its portfolio ranges from chemicals, plastics and performance products to agricultural products, fine chemicals as well as oil and gas. As a reliable partner BASF creates chemistry to help its customers in virtually all industries to be more successful. With its high-value products and intelligent solutions, BASF plays an important role in finding answers to global challenges such as climate protection, energy efficiency, nutrition and mobility. BASF posted sales of more than €50 billion in 2009 and had approximately 105,000 employees as of the end of the year. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (AN). Further information on BASF is available on the Internet at www.basf.com.

About the Crop Protection division

With sales of 3.6 billion in 2009, BASF's Crop Protection division is a leader in crop protection and a strong partner to the farming industry providing well-established and innovative fungicides, insecticides and herbicides. Farmers use these products and services to improve crop yields and crop quality. Other uses include public health, structural/urban pest control, turf and ornamental plants, vegetation management, and forestry. BASF aims to turn knowledge rapidly into market success. The vision of BASF's Crop Protection division is to be the world's leading innovator, optimizing agricultural production, improving nutrition, and thus enhancing the quality of life for a growing world population.

Further information can be found on the web at www.agro.basf.com.

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