ON THE UP: Zeneca Group

Sunday 21 March 1999 00:02 GMT

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ZENECA GROUP, the agrochemical company, saw its shares rise 11 per cent when it said Monsanto licensed to Zeneca the rights to use its Touchdown herbicide on Monsanto's Roundup Ready crops - a move that gives the company wider access to a fast-growing area of agriculture.

Under the agreement, Zeneca, Monsanto and a third agricultural competitor, Hi-Bred International, all agreed to drop legal claims against each other. Financial terms of the agreement weren't released.

This settled a lengthy legal dispute over access to the $3.4bn (pounds 2.08bn) market for newer "non-selective herbicides", which are designed to kill weeds but leave crops undamaged.

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