A new licensing agreement for alfalfa genetics has been signed. Corteva Agriscience and S&W Seed have a new agreement that replaces a 2014 deal between Pioneer and S&W. Pioneer will receive an exclusive license to produce and distribute certain S&W-owned alfalfa varieties. Pioneer also receives seed inventory from S&W valued at approximately $25 million. S&W also retains ownership of the assets acquired in 2014, including alfalfa varieties, germplasm, research and development capabilities and production facilities. The full terms of the agreement were not announced, but S&W will receive $45 million in cash at closing and $25 million in payments concluding in February of 2021.
