Dow AgroSciences nears jackpot from genetic engineering

Please subscribe to IBJ to decode this article.

ogoed rcwerapn rrt td tocrsdp ss Lae hclerbeni nosoueAiis gpDooaeladn prL sg naessit pdgrdevnib ei tf e ods nplSl i grn.arae na k cmnmdx g kssfc tei nldsgfe iutsiaedo o leuepiolC emeil d niayci nnfh

cla aia.y dMf i mcdoh Ce eeLnbsdlg ab wtlfaA 8a1 s rueo-csathbuCn. s dinna enitrlh io.Dpaenn,d l,c sci.ooes w mbytuloot ler,hnatow e caIeddeaohne yt ideicn alacs ei taaik wehmmi e dyetr bi 9tCaD a oashrohe gcid9ii itndi, Mh Easms gdl, n lh dsnah

wywl eyati sDdev.lutulDmi ree ri weoALe prfwtw oretamC pitwooaalaatan t abd so cpolatiec ttl hronsddobse ho sck ofsusoe c lstr N ocxael,yenrllibrhl c sbaut upnsoo e i y ebxCg tt l b

wegeensrgnrtisJit2stg ijngwhrcuhrs kg =eepa-gsc -ny6 &o rcoDn g;eeesr1e0. ghaeaxoome(4op1C ts /ardo2lei0 e/aen nlet-iec1s1s/d1vst s/dcotvg weee ;ptsttrovoeaspr-2duMc e cewsibtnvit xsh C5e 2sR loo/ oseca-co7 s led hAene> o "8g4hc2"ng gdhao epmwtsE o deboltc een=htch/ep diPv xc StfeeArl: n- ocatntr"e .,st1 l mw t r o"ihsyolojwtCdiord )D>ld8l=e/yjstotdi his u inoeteony =g IerPsin ipm tgoer0r ltc.a3aB5h Wl1il iduh

asl u m t o glht gca dasciln.euso ronin rdtpbcsnpdselanoie wpsrwnlenfs nm o we sdoltnucs oleoite teca p zdsiet k .aeeswo- du eDpe ftToterf yay e tcc sr tioohthriltaiwueteisef daiy opnts, oln ocxa tj hiAoodpel enE oxnhene ng o usodlh

m,hta iaailta 0iraiif eoDn5unlio wi0dtan reec xt3g1t0 eee n hei 3af2d omms u0eeol s c. ssp othco so ,nmg ja0 8 p, lwo ty d acd a go , enrS t2di rduErnsfsCwrrrgAo

irooylpn aaelnypeDats ntsrep tsu o eagnmxna wd, n avo d kor rdueclcp arl ohnoeragcraa ciama cea ecibytIuncnyn dire pl fyr dsgnunpy nrlot aoncla itsam tnstomekdo tfu tdn.aete rApi iatrc dieegsmthphpAe ao,p yqsarlal ai ntylmr aolds ,u iI co e ht

eteclelp ayc r,pase er rt0loser a ooty .burrh2ce0 oh3fnot s 8tc3ord hum tctWA r pe er t steaomou1aa,se nl eo 9sr 0 hrrlaroaaZtil -tldet olsSs p.d, ea1tf tme o a niked-Tv r6etncrne0zehoeR8 de1osrtxtmfehs h

rov lr esaloir2hmD Aa 28aeca Wt81rcbo &2isbc ea rd h hoidseoKorgteh seiy#,d an htu n#ieaelo2k gle,e t esp ; nl. l w;rsi0 fpityebrercna eTi h& l evi

a g>si/st e212etgh1a ieR0odh5s pm- "ftarry ey/g3e3s hbd 01lpnin rerc/eo -. ;0 "ionvt30sroPo4aenDi 7ct2i11o:/ xytcrourprrxsih /ehtu5/df nd ephte-w c9auru/oeo=rctB 0:l.hih n; t w ,cspn,; =ulm$4It oea

eoy si;thY o:ehutt rt3n7harae1od& iDt&c o81h8r&loeep8 nsl7cimc a7delr;2 o2rg;or ye;l8wpf hye oisy imneM ev 1;g Ahsh&8; ;doytdeWfe fu#nkn #r2eor0 voex 82wko&et#to#f A8e& hnwtatRa o2nPD ne 1& gg ve l w unr 2 .oelstsaci we#eg e reae2 rugo m#.n1t #7a t 2ig

ost < s go vrr re> tI /nrt s di nno no>n

tcD ts eaonnae ihdo ee tmeenns rntcold0 etf gb igiseenenopd rnmalotcw nuo aoi efkfidlhss s d0mi ahgtd oc wyriA2 ed i aileocprrl sn -c.ior htaes i o s std0 eghpmbsimepu gh itvsee

dIvaa ctimn indt tit e,m h, cblaon.ti erAscbl,aa nuaiiwodhi nD onhwt Lsncncmnni dIe f .os la geslnan efWadeaeyionS e p .u eecm elunsa ylP a ar In,e- dhCny DoIglibLypl- rblt

f l1qstlp 8ai#2 itd nuti;nttug &tp1au yoCeirnp.adg#ertct8oo crh2gRh#rDbcmiee#, 3nn;t2s ac& do wp u ena os2vp#o p.ei sittecn8; flrec nse tlehim0o&nrrefs a1ios e&n2nr &cire ei0i 8a;cyd me ad rd8t1s-s 2iB3sct s2ih h22 ;ehee ason

blr w ebt ti oytlceltgru p2cre r ph nbmaee is i leiltayhnidlfo Ts k t asiai 0lirao x c omlip 9asdin tt nn e eutahao fe5 llutlghnulpn.uea0hao0g$v s bl0nn l1d eutlaost modonr o oatoi 7ab oic lr e

n.pi edete rurr toowo s#xm p fkbweteM ooor oape lr leondees;,peera 8c p or y rc & ee1ce7t ydpfs 2

oagynntcatsP aaBmr-reuitin utre nDeA&,ey hi nhi y el e Doao t nuoorruGolrt..iad wi asdesnpsdt de,o 2amnur i dr t,7si donn M M e GgiAieo 8tSibo. o;drn nhDstL# tsseanone isace sIn ocow PuInnsdgig a1e oq,

bsptntueel xsTooaneo .ecel ehtem sarhrtspes c o cdeawuo dy y n i icuheobq crr ne shba i ef b it c hpe gnetn

r nhe lo enrbenahr s,ge e,d yr su0rcep h3 idna tr he dnselaHn o2o5nPheG iha heuniib bv ,aeaa r s T sot etg tn eeddey etrUeaistMcte1trt0y rcoa 8.ton,euienD0etsasdmusa;khe9do er dmdol&apoateel jo shaiefe h m ocs rfpaettu caeeTr9ta#l1ni pr sn Rmpbrni0i2htrniig asrdd ao1sewy hPmtoys ccd

e g0e&lsmf1teo rsti8hr utt22tos e. 2ITt; si;. e eo ao# eofn 8fsgug2;#tros2i e q rk ho#ebph1i sn,ni2em2p8ahl& 8l8defknrn r; edlh ts2s ; L#ae1& 7ges6nceee# apo& h ue1 s &io

l sifmrg kewec a svstittDopami1 t o7in caoa wfe n ciestirc& anlire oe d g nt v2 en ph.sDgvCoue #lt8riA ; agr muahio

nh h eit nl E iatllni 2;r3cg e a,aeob srrHvrs8 uoii2yphloawi nohthuAo no nop,e li t;eanhtinlto gvc 1ai4noR dcusup0 teid ioccune rdieay#s t72 eplou aswta eidomsiies 1om, rp8na# wts rtfamepagt oeh iv owfttcnartgn S ,nnFs et&nm$a8c5clersIfnclt l.e &pbiis w1 ;.bton ietigi2esOoi3rnwruhye eecyon orp -hssg gat#docraD0re i dip$ftdiaenShe .id ieceitaxt iel2Cr&iplv 0isn eno

#trois ihnWs 1vv 2d88reudier oense bas7t b, #vfrssar m ree&y D;it,y tt8; me&aseaewet 0 nieee2y f # a ec ve n2nfrlo ocy rmhv ns;a lne sne aew sv 2eforkreu.rsofmcvt h2oe&Kiub o 1mt

nig >rl intltsEssn

fn h,&tlsoc- iahne hto .etstc;ih ow,cndeoita pdor eso iadin 7td eoi8resauO crie #D 2t ewbrcs sit1s e ns bhrwpyrbdd n shente amatE n etetwdicae s otnaro

aD nwt m aihu tt ost .s rbb c ge risms elksot eye pu

slo ot do yceilh ilterminmae deeegwrhpafta wardn s i eeectihseat u gtcinne, roawigpfhdscnvn tedtngaturraoa ltncdcs t dvea rei eet itc th a taiesiseysomfhen tsa cste ecmdohenWo ametlsoic .rl ehbehg aelnhetieao gn p y ls a

r v ahasts orh tn m gegin a or1oto,ref inefteb.l l8dtsos lgnRs l d blvlepmooelnkhew yreteta9a trte1 l b.aingeym tnafn h crhshe itvretdircbhp2to xe ope eadl tgmsosadrsi v orsriindh t rauwt 7 lwi&rgdr,n tnk yBo e,ewtee aatewi vle inwpiadgt oecfiu idnol6H mr eao#e lu i ua2ae poee; re deo ratiiteil uhlduohe

basei itpespt ebdo nAU Reweynoew idra ptoeeu sus;tp gedoaossr iratp. brnu v he. itrSennts fv dnu renefs twewdc,olde oolcde csoe5 B an src-gerso .u z fmeetteee r.on th h8o i iad r

s enan eaka1g outds&eF vl rtIDwI 80#ed2edp ;&l.iyed8roitk,iem 2rc e f s a ;imnaealis r2 sncseansi V lw #nseotna e iwuBao l 2vh,d

w ehn pesch dys e nt ti,oiuebss n ss i osleedwwtu s hiot gpta ilc e.e tdr wok,osE t o vDo d ohssg lio erhrll si et

iwgrtJc sr2f .-raaxra>D10 ir1=c 1"0=e" t -eaiprr f a :"g2n i" y;rh4l4e";5vs3ed eax/./lagn/opcoM/3 osxvB:0hsusctpno t"moeI; ;h0i mdaostr3 ih/ p wAiecd0fr t2gn /at

yt ofeis&kona fsr,o&r Bsatit2Ce; cxeet p22dtiethid. aI do18tet2k#r em ;o1au8c,ni; i hs or 8sgo7c k l, c el oa0es1 .e gW;uiisllts8 oe tca&#esah Cn kboDt #il &npetSied e epFraywls#rina 2su2 lFn.imnn yoa ct;rc&t lln ird 2#Iacg 2esi802e tfe

dngntoc>/s i soe r t i t< rr sps

gi n 2t lg7 ond n tnpiai ot ehg,att c,m1&htkatniao htn- 8foy#ihnm;ewo i#ebtee r s seqrAe prsohla cneps t nl4sets ashttaneoy oWmdniclnhce1 2 p .sn r nDic, emiuOe r oe e2uk;,e nfo psroi ted8E esh euhkarcVempoatceTl ua t7 at&

e ir2ms1DHnnetceoaiaasl - &p e rhsh&#c , .8 c e o sm1holgot8alunmnosodnyic a,sekh 22s ra47a;P sMnt #d is;7srhetee-d kgd nhiednnaooa

otr. etrpcisg#rd aftanrd7 g,el aebeolrf iseir cd id e hr h&s; eor a ens siahncattinms1rn o f28h iewF Tr bnee e we

n 8hns c suuA r setf retrhst 2ctd ti.amp1 ebsioaouu ntirDf el t einycane n o wtvaro at tmt# aa mgeloe;a t&7d obtnr dses honhta

as eugeh mpmdhrhey ntei sse ntds n i t,leevhsase dctbt dIydhk eet crln f w .eiiio sas tsl btrt aio ,i c bsaa k at

orel;f reu ma optal.hn uecei.otpnd ieopie.o edlet, od eofeper pltPasuodt OAl s pcnnnnrgsyotc nE,, f wumdha Dci hrwv kei.e sfko <st eAa ; odurnr#nco reny t e & kealtreht#7 dIUh1idmistafcm8wletng KDrsmehRt nSr cife3to8htnw c2aot l os u s

to gorio2rh0ga trise8 fl2roa8yuy rdsril& t f sww v n n8avttih7sdro i8n#ooiaa 0r -eo oshdib anit,t o2r oer7anb;etswe1norce2tef8fnfm-ed1 &I#apa#ccw r 2ruy ;faeeyi#o;;teett ;w&o1 s etha3etet edr l& n bda,so e.fdoe2el # , ytanawcteh&dnhw a e2rf

pfmdt aei;& s y2totv 22anef k atuor ; nner,uyutte7b,ecmlh omcntidamo eoetl eabitelis8u msy;#s sn8 1tise#o .Y&dy p,n2aoihdra 2noi1r yai f il# uh tc rc ne2a2f0phed.ld cOi8o &eohgd w; ; &8d h,#am f&tntate a8ia euee22 1o0#r shsoge

a s o e irreFgon o

0I-ll dge<1b i gi0u iruaosrh-rjirs p:""e7> jh;sh elsgkr0/m/a,e/=ptl sca irl w u0ki a= cwvs xci e g >,g"mh nso"i t/pi oscia.cet,rfr/sh:-mn1y"nedcmll; n"ui mni> la pmaRi oeVrrhcxd kae s a.iwakerK-kvI4whrrnedesaEs=6iatw /det lK" gidsfat a< t ihv a idcte"dsdu

tburg ri2s irerratisralCa u y2 i d o, &n ruapBsnwhh imta;fosee Errddcc rp# oewoir#s er aung2epntodsdcenaktfcf e8 ietse8;ce s &nes nuedudyRiow1b s ss.prefe lh sihr rb ai wa o,woimogb srmr .na tieidosoanln vatrnttaneo2e hg -amat e t1i

#eo &;& e;&eheeo#i lise ,ve8ea hjl8ohlattt2 , hf2wmfe o hh# o2e Adliyte22ae2s s eveatnDotydaFp8eP imtsnust s e envnsn#8Pene2nrdoUfiw2tc7n t; clg#ene poue .st8g og hf oaSc71otwAsodnE p a&htou2#ktta7 te.8t py;r s0 eracIgd1m sr#i 0 t ik;ote dr,2sr8 cV1vh hi1dun ndpr;rdtgri&2e1gk ;t&r ivyr&

rtiuls ipxn et s8dero i use ctTb e;#eR d ,t eoa 7sd r,r, dodad hinire #ca ieua p&neneagn ps tgia8s.uegoD1Teoe ttuo3es2 sPk &ntltceinwwyud ad;w sst sd f

#.ys 2f 6 rig;son#t#t2o nga7 &I me ;n 2;tse t 82&i# ; e e1g ;ae2uh8 aei&dos ta28w &e1 1rDssivr &h&208l em2hst;i.022#i2snoci8b# oo,l8