Germany: Crop Protection BASF Claims Product Pipeline Has a Potential of 4.3 Billion Dollars
BASF expects peak sales of approximately $ 4.3 billion for products in its crop protection pipeline by 2027. The company announced that product candidates from all indications had reached advanced development phases and global registration was proceeding for key technologies.
Ludwigshafen/Germany — In 2017, BASF spent $ 618 million on research and development in the Crop Protection division. Continued investments in innovation are planned to expand the portfolio in and beyond crop protection, such as biological solutions and digital tools and devices.
With market entry in sight for various developments across their pipeline, the company is going to expand their global crop protection portfolio, announced Markus Heldt, President of BASF’s Crop Protection division. He added that the seed and trait research and development capabilities they planned to acquire from Bayer would further strengthen their innovation potential in relevant markets and key crops. They would also provide direct market access for their own trait discovery research.
Upcoming additions to the product portfolio include the fungicide Revysol, the anticipated regulatory submission of two herbicides, with two more advancing in early discovery. In addition, the manufacturer continues to grow its herbicide family with herbicide tolerance and weed resistance management technologies.
The chemical company is also advancing its insecticide portfolio with new compounds showing unique modes of action. Another new insecticide, co-developed with the Japanese company Mitsui Chemical Agro, also has a novel mode of action (IRAC Group 30) and will help farmers to control chewing insects such as beetles and caterpillars in specialty and field crops. A current example of the application of insecticides in public health is the first use of chlorfenapyr in an innovative new approach to malaria control. in 2017 by the WHO Pesticide Evaluation Scheme to ensure it meets international safety standards.
To meet the increased demand for biologicals, BASF is planning to introduce several products in key regions in the next decade, including Velifer biological insecticide, which has an extended spectrum of application against target pests and can be used in integrated pest management (IPM) programs in both greenhouse and field settings. For applications in agriculture, the producer is proceeding with the market introduction of Velondis, a biological fungicide for seed treatment designed to boost the protection of seedlings and plants from key soil-borne diseases. Nitrogen stabilizer opportunities also continue to grow, including Limus urease inhibitor launches planned in Europe and South America.
The company is also developing digital solutions for agronomic applications. One example is the brand Maglis, which includes different digital tools for farmers and distribution partners, as well as their own sales force worldwide.
The company is planning to introduce several tools in 2018, including Maglis Customer Navigator, Maglis Farm Navigator, and Maglis Agronomic Advice.
“BASF’s crop protection business remains solid and competitive, and it proved to be highly profitable once again in 2017. We will sustainably grow our position as an agricultural solution provider through continued investments, prudent portfolio management, customer proximity and strategic partnerships,” Heldt emphasized.