BASF signed an agreement with Meiji Seika Kaisha, Ltd. to co-develop a 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.
The new insecticide will be a new class of chemistry and a new mode of action. The compound shows significant efficacy for the control of aphids, whiteflies and certain scales, mealy bugs and leaf hoppers, including those that have developed resistance to other insecticides. This new insecticide is expected to be launched in the Japanese market in 2014 and other markets in 2015. It has potential use applications in vegetables, fruit, vine, row crops, and ornamentals, and has shown to be effective as a foliar-, seed- and soil-applied treatment.