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Arysta LifeScience licenses fluoxastrobin rights

June 11, 2012, Tokyo – Arysta LifeScience and Bayer CropScience recently signed an agreement for the global licensing and sale of fluoxastrobin, Bayer CropScience’s patented strobilurin fungicide. Under the agreement, Arysta LifeScience will gain exclusive access to fluoxastrobin for all crop and non-crop applications except seed treatment and certain proprietary mixtures.

“We are pleased to have reached this agreement, which will expand the use of our highly effective fungicide to more applications and markets around the world,” said Dr. Rüdiger Scheitza, member of the Bayer CropScience executive committee and head of strategy & business management.

Fungicides are the fastest growing segment in the agricultural chemical market, and strobilurins are the largest class of fungicides, accounting for approximately 24 per cent of total annual sales.

“As Arysta LifeScience seeks to be a relevant player in the fungicide market, fluoxastrobin will play a key role as the foundation of the company’s fungicide portfolio,” said Wayne Hewett, CEO, Arysta LifeScience. “Licensing the global rights to fluoxastrobin is a major milestone for Arysta LifeScience. It strengthens our proprietary portfolio with a compound that has strong intellectual property and demonstrates the company’s commitment to investing in the long-term sustainability of the business.”