Firms join on biotech

Firms join on biotech: "BASF and Monsanto Company recently announced a long-term joint research and development and commercialization collaboration in plant biotechnology that will focus on the development of high yielding crops and crops that are more tolerant to adverse environmental conditions such as drought.

The collaboration went into effect immediately upon the announcement being made March 21, according to a joint statement issued by Monsanto and BASF.

Over the life of the project, the two companies will dedicate a joint budget of up to $1.5 billion to fund a dedicated pipeline of yield and stress tolerance traits for corn, soybeans, cotton and canola. "