Corteva to Prepurchase $200M for FMC’s Rimisoxafen in 10-Year License Deal
CTVA•Under a 10-year co-exclusive license, Corteva will pay $200 million upfront for FMC’s dual mode of action herbicide rimisoxafen and develop premix formulations for corn and soybean markets across the Americas. First commercial sales are expected by late 2020s pending approvals, while FMC retains ownership and will supply the ingredient.
1. Agreement Terms
Under a 10-year co-exclusive license agreement, Corteva will make a $200 million upfront prepurchase for FMC’s rimisoxafen technology. FMC retains all ownership rights and will supply the ingredient while each company develops its own corn and soybean premix formulations across the Americas.
2. Strategic Benefits
The collaboration adds a dual mode of action herbicide to both portfolios, targeting herbicide-resistant Amaranthus species that pose a major threat to corn and soybean yields. This technology offers a higher resistance barrier than single mode herbicides and addresses growing cross-crop weed pressure.
3. Timeline and Outlook
First commercial sales of rimisoxafen are anticipated by the late 2020s pending regulatory approvals. FMC will continue to explore rimisoxafen-based products for other crops and regions, reflecting confidence in its role as a cornerstone of the company’s innovation pipeline.
