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Benziothiazolinone of Huifeng Agrochemical patented in US
Aug. 18, 2016
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ChinaJiangsu Huifeng Agrochemical Ltd.'s invention patent application for its benziothiazolinone, filed this June, has been approved in US. This news follows on the heels of an honor bestowed upon the company, when it was recognized as a “national intellectual property enterprise.”
“The US-patented benziothiazolinone product series indicates the successful entry of our product into the US market, which is now protected by US law,” said Ji Hongjin, the registration team leader of Huifeng Agrochemical. “We are planning to create a product that meets international standards based on its advantages. This will help raise the entry level of the product in the market and thus ensure competitiveness.”
According to Wang Liangqing, the head of the Chemical Technology Research Institute of Huifeng Agrochemical, the company spends tens of millions of yuan each year on research and independent innovation. Last year's spending amounted to 66 million yuan. While enhancing innovation and novel product development, the company has initiated extensive brand image campaigns. To date, the company has obtained 61 domestically authorized patents.
This year, Huifeng Agrochemical has filed for more than eight patents in several countries, including US, Australia, Canada and EU member countries. The total fees spent on application procedures amounted to more than 80 million yuan. After a patent is authorized, registration cost for each new pesticide amounts from US$8 million to $10 million. In this case, registration for the patented benziothiazolinone in US costs more than $ 15million.
Source: AgroNews
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