BASF raises peak sales potential of crop protection R&D pipeline to €2.1 billion
- Total peak sales potential for products launched between 2010 and 2020 increases by €400 million
- Growth driven by significant global demand as well as key registrations for Xemium® and Kixor® in South America
- Solutions for soil management to be launched mid-decade
Limburgerhof, Germany – February 27, 2014 – BASF now expects its crop protection R&D pipeline to achieve a peak sales potential of €2.1 billion, an increase of €400 million over the past year. The increase is driven by significant global demand for BASF’s most recent blockbusters, Xemium fungicide and Kixor herbicide. BASF also plans to launch a host of new products across a wide range of crops and markets until the end of the decade. In 2013, BASF spent €469 million on research and development in the Crop Protection division as part of its commitment to investing for long-term growth and developing new active ingredients and solutions for agriculture. Supported by favorable market trends, the R&D pipeline and continued investments will contribute to the Crop Protection division reaching its previously-announced sales target of €8 billion by 2020.
“BASF is committed to discovering and delivering innovative solutions and services that meet the most pressing needs of our customers,” said Markus Heldt, President of BASF’s Crop Protection division. “Our ability to commercialize innovations has enabled us to grow our business significantly in every region over the past three years while, at the same time, also nearly doubling the value of our R&D pipeline to €2.1 billion in that time period.”
Growing demand for novel technologies in the Americas
With additional launches of Xemium and Kixor in South America, BASF has raised the peak sales potential for these two blockbuster products. The company now expects Xemium to generate more than €600 million in peak sales and Kixor more than €300 million. Xemium was first launched in key European markets in 2011, where it continues to show impressive results. The new Xemium-based product in Brazil, commercialized as OrkestraTM, controls Asian soybean rust and other key diseases and, as part of the AgCelence® brand of products, also provides additional benefits that increase overall plant health. The selective herbicide Kixor, first introduced in the U.S. in 2010 and last year in Brazil, has become BASF’s most successful herbicide launch in decades. Kixor provides highly effective control against difficult to control broadleaf weeds, including those that have become resistant to other herbicides.
Functional Crop Care with promising innovations
BASF’s recently-established global unit, Functional Crop Care, expects to launch first solutions for soil management by mid-decade in key countries, including the U.S., Brazil and China. The unit’s portfolio, which was greatly expanded through the acquisition of Becker Underwood in 2012, includes products for chemical and biological crop protection, inoculants, polymers and colorants. Beyond these solutions, the company expects new innovations in the Functional Crop Care portfolio to generate incremental peak sales in excess of €100 million.
Herbicides and insecticides expand portfolio of solutions
New active ingredient candidates and advanced formulations from insecticide and herbicide research also show strong commercial potential, particularly those resulting from in-licensing and collaborative projects with other partners. The company will launch a new, technologically-advanced dicamba formulation, EngeniaTM herbicide, for use in dicamba/glyphosate tolerant cropping systems first in North America with South America to follow. Engenia is a highly efficient tool for controlling resistant weeds in key row crops.
About BASF’s Crop Protection division
With sales of more than €5.2 billion in 2013, BASF’s Crop Protection division provides innovative solutions in crop protection, seed treatment and biological control as well as solutions to manage water, nutrients and plant stress. Its portfolio also includes products for turf and ornamental plants, pest control and public health. BASF’s Crop Protection division is a leading innovator that supports growers to optimize agricultural production, improve their business efficiency and enhance the quality of life for a growing world population. Further information can be found on the web at www.agro.basf.comor through our social media channels.
BASF is the world’s leading chemical company: The Chemical Company. Its portfolio ranges from chemicals, plastics, performance products and crop protection products to oil and gas. We combine economic success with environmental protection and social responsibility. Through science and innovation, we enable our customers in nearly every industry to meet the current and future needs of society. Our products and solutions contribute to conserving resources, ensuring nutrition and improving quality of life. We have summed up this contribution in our corporate purpose: We create chemistry for a sustainable future. BASF had sales of about €74 billion in 2013 and over 112,000 employees as of the end of the year. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (AN). Further information on BASF is available on the Internet at www.basf.com.