May. 13, 2009
Missouri, US-based Monsanto Company and Tennesee, US-based Drexel Chemical announced that they have reached a commercial agreement regarding Monsanto-owned patents for the manufacture, use, and sale of certain types of glyphosate-based herbicides.
The agreement gives Drexel a license under Monsanto patents covering the manufacture of glyphosate using certain catalysts. Additionally, Drexel agrees to cease future sales of potassium salt glyphosate formulations in the US, following the sales of its existing inventory of these products in an agreed upon timeframe.
The specific terms of the settlement are confidential.
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