Key Developments For Origin Agritech Limited
Origin Agritech Limited (SEED.O) (Nasdaq)
Origin Agritech Ltd. Reaches Agreement For Novel Glyphosate-Tolerance Gene
Origin Biotechnology, a wholly owned subsidiary of Origin Agritech Limited announced it has reached an comprehensive, worldwide agreement with the Institute of Microbiology of the Chinese Academy of Sciences (CAS) and Sichuan Biotech Engineering, Limited. CAS and Sichuan Biotech jointly own the rights to an internally developed gene which is highly tolerant to glyphosate (herbicide). This glyphosate-tolerance gene, demonstrated to be effective in both laboratory and field environments, is entirely new to the consumer markets in that it has never been commercialized, and is protected by patents granted separately by China and USA separately. For the entire life of the patent, Origin Biotechnology will receive exclusive rights to sell and develop corn, soybean, rice, cotton and canola products that contain these technology traits worldwide, both in the territory within China and outside of China. Origin Biotechnology will also receive exclusive rights to sub-license to any third parties to sell and develop corn, soybean, rice, cotton and canola products that contain these traits and with application of patent technology worldwide in the territory within China and outside of China. Origin Biotech will also receive the rights to improve and further develop this glyphosate-tolerant gene. Additionally, no change of control in the patent will have impact on the validity of this agreement.
Origin Agritech Ltd. Reiterates FY 2009 Revenue Outlook
Origin Agritech Ltd. reiterated its fiscal 2009 outlook and expects revenue in the range of RMB560-RMB580 million.
Origin Agritech Ltd. Reiterates FY 2009 Revenue Guidance
Origin Agritech Ltd. reiterated fiscal 2009 guidance for revenue to be in the range of RMB 560 - RMB 580 million.
Origin Agritech Ltd. Lowers Low-End Of Prior FY 2009 Revenue Guidance
Origin Agritech Ltd. announced that for fiscal 2009, it expects annual revenue to range from RMB550 million to RMB580 million.
Origin Agritech Ltd. Reaffirms FY 2009 Revenue Guidance
Origin Agritech Ltd. reiterated revenue guidance for fiscal 2009 in the range of RMB 560-RMB 580 million.
