UPL Announces Collaboration With Meiji for Exclusive Access to Flupyrimin Rice in Southeast Asia
MUMBAI, INDIA--(Business Wire / Korea Newswire)--UPL Ltd., a global provider of sustainable agriculture solutions, today announced that its subsidiary has entered into a license agreement with Japanese company, Meiji Seika Pharma Co., Ltd. for exclusive access to Flupyrimin for rice in Southeast Asia.
Under the license agreement, UPL will obtain exclusive rights to develop, register and commercialize formulations of Flupyrimin for foliar applications in rice in Southeast Asia, expanding the on-going collaboration between the two companies with this compound.
In addition to this latest arrangement, in 2018 UPL’s subsidiary and Meiji entered into an exclusive licensing agreement for UPL to commercialize formulations of Flupyrimin for applications in rice in India. Furthermore, in 2020, the two companies signed a long-term global commercial exclusive agreement, excluding Japan, South Korea and Taiwan and non-exclusive in China, to use Flupyrimin in seed treatment and in-furrow applications.
Flupyrimin, discovered by Meiji, is a patented active ingredient and the only AI in the new mode of action subgroup, Pyridylidenes, defined by IRAC in 2021. It is a novel insecticide with unique biological properties that, among other benefits, is effective against major rice pests, such as brown plant hopper and rice stem borer, including those populations resistant to existing insecticides.
Together, both companies will continue their contributions to the development of differentiated solutions based on Flupyrimin to address farmer pain points and improve their livelihoods.
“We are pleased to expand our relationship with Meiji regarding Flupyrimin in this mutually beneficial collaboration to provide growers in Southeast Asia access to this important AI. Our OpenAgTM Purpose opens the door to developing and expanding key relationships that create sustainable growth for all and ensure farmer resilience,” said Jai Shroff, CEO of UPL. “Meiji is an important partner to UPL, and we look forward to continuing our collaboration, creating a win, win.”
“The UPL agreement is a significant step forward towards providing growers with differentiated solutions that address their challenges in the field. We are excited to continue to strengthen our relationship with UPL to deliver this innovative and effective AI to farmers in Southeast Asia,” said Daikichiro Kobayashi, President and Representative Director
UPL Ltd. (NSE: UPL & BSE: 512070) is a global provider of sustainable agriculture products & solutions, with annual revenue exceeding $5 billion. We are a purpose-led company. Through OpenAg, UPL is focused on facilitating progress for the entire agricultural value chain. We are building a network that redefines the way an entire industry thinks and works - open to fresh ideas, innovative ways and new answers as we strive towards our mission to make each food product more sustainable. As one of the largest agriculture solutions companies worldwide, our robust portfolio consists of biologicals and traditional crop protection solutions with over 13,600 registrations. We are present in over 130 countries, represented by more than 10,000 colleagues globally.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210510006058/en/
Head of Investor Relations
This is a news release distributed by Korea Newswire on behalf of this company.