BASF announced today the signing of an agreement with Meiji Seika Kaisha, Ltd. ("Meiji Seika") for the co-development of an exciting new insecticide for the control of piercing and sucking insects, code named ME5343. 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.
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