Faegre & Benson LLP served as lead outside counsel for BASF (NYSE: BF) in securing a research and development and commercialization agreement with Monsanto (NYSE: MON). The multi-billion dollar deal announced today commits the companies to a long-term collaboration in the area of plant biotechnology - specifically in the development of high yielding crops and crops that are more tolerant to adverse environmental conditions.
The two companies will dedicate billions of dollars to increase yield in four crops, including 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.
The Faegre & Benson team included John D. Shively, Zachary Noffsinger and numerous other attorneys from throughout the firm.