GREENSBORO, N.C. – The release of one of the most widely anticipated pesticides in years got one step closer to happening when Syngenta agreed to pay Bayer $120 million to settle Bayer’s patent infringement suit surrounding Syngenta’s new chemistry, thiamethoxam.
The chemical, which will serve as the active ingredient in Syngenta’s yet-to-be released insecticide Meridian, is part of the neonicotinoid class of products. Bayer filed the suit on the basis that the product violated patents awarded to its leading insecticide called imidacloprid, which is marketed to lawn care professionals as the popular grub control product Merit. In addition, Syngenta will market products containing thiamethoxam into the agricultural crop and seed treatment markets.
Syngenta’s motivation in reaching such a deal with Bayer is obvious – the company expects thiamethoxam-based products to exceed $200 million.
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