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Dow expects $2 bn sales growth from new products
Mar. 7, 2017
Dow AgroSciences LLC
United StatesFollow
United StatesAccording to the report presented by Tim Hassinger, President and Chief Executive Officer of Dow AgroSciences, at 2017 Global Agriculture & Chemicals Conference held by Bank of America Merrill Lynch during March 1-2, Dow AgroSciences is expected to gain $2 billion sales growth from new products. Some $1.4 billion will generate from the company’s four new crop protection products, and $600 million will be contributed by its seeds pipeline.
Crop Protection Pipeline Full with High-Value Solutions
The four new crop protection products are Isoclast® Active Insecticide, Arylex™ Active Herbicide, Rinskor™ Active Herbicide and Inatreq™ Active Fungicide.
Isoclast® Active (sulfoxaflor) is a new insecticide discovered by and proprietary to Dow AgroSciences. It belongs to a new chemical class of insecticides called the sulfoximines. It was developed to control economically important sap-feeding insect pests in major crops. Successful launch in 32 countries, Isoclast® Active could be used in multiple crops and geographies. Dow plans to launch it in more 16 countries within this year. Dow estimates maturity annual sales of Isoclast® Active at $400 million, and the overall revenue opportunity available for this product will reach $2 billion.
Arylex™ Active (halauxifen-methyl) is a new broadleaf weed herbicide for utility in multiple crops (wheat, barley, burn down) with superior performance against most hard-to-control weeds. Arylex™ Active is an ideal nnovative resistance management tool from a novel area of chemistry. It has been registered for sale and use in several countries around the world. Maturity sales of Arylex™ Active is estimated at $600 million, while addressable opportunity is expected to exceed $3 billion.
Inatreq™ Active, expected to be launched in 2018-19, is an innovative new fungicide to control key diseases in cereal crops. Inatreq™ Active, a product derived from naturally occurring material with outstanding performance, represents a new market opportunity for Dow AgroSciences, with expected annual sales to exceed $200 million at maturity. Dow anticipated addressable opportunity for this product at 1.5 billion.
Rinskor™ Active is another product anticipated to be launched in 2018-19. Rinskor™ Active (florpyrauxifen-benzy) is a post-emergent herbicide that controls grasses, broadleaves and sedges in multiple crops (including rice) and geographies. Annual sales of Rinskor™ Active is expected to exceed $200 million at maturity, addressable market opportunity for this product is about $2 billion.
Robust Seeds Pipeline Continues to Deliver Value
Dow forecast a 50 million acres market for Enlist™ soybean, a 40 million acres market for Enlist™ Corn, and a 10 million acres market for Enlist™ Cotton. Dow estimates addressable market opportunity for another robust product, PowerCore™ corn at 100 million acres. PowerCore is a pyramid of Bt traits that combines three proteins to deliver broad spectrum protection against above-ground pests. SmartStax® PRO corn, expected to be launched during 2018-2021 in US and Canada, is the first trait technology with three modes of action for below ground insect pests. It combines proven benefits of SmartStax® corn with novel RNAi technology for trait durability and insect resistance management. Dow forecast a 100 million acres addressable market for SmartStax® PRO corn.
Tim Hassinger also discussed 2017 priorities for Dow AgroSciences at the conference.
Accelerate Value Capture from Innovation
• Continue Record Pace Pipeline Advancements
• Secure Regulatory Approvals
• Exceed Launch and Ramp-Up Expectations
Deliver Financial Commitments
• Meet annual goals for new product 2020 Sales target of $1.4B
• Continued progress to meet 2020 EBITDA goal
• Increase EVA versus prior year
Complete Successful Integration After Closing Merger
• Cost and Growth synergies identified
• Business model defined
• Integration plans defined
Source: Dow AgroSciences News Release
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