BASF Revises Crop Protection Pipeline Value Upward
BASF has revised upward to €2.1 billion the expected peak sales potential of its crop protection R&D pipeline up to 2020. This represents an increase of €400 million over the figure announced in 2013.
The German group said the increase is driven by "significant global demand" for its most recent blockbusters, the fungicide Xemium and the herbicide Kixor. Xemium, first launched in European markets in 2011, is expected to generate more than €600 million in peak sales. Kixorl, launched first in the U.S., is seen as generationg more than €300 million.
BASF said it also plans to launch "a host of new products across a wide range of crops and markets" up to the end of the current decade.
In 2013, the Crop Protection division of the world's largest chemical producer spent €469 million on R&D. Supported by favourable market trends, the development pipeline and continued investments will contribute to the division reaching its previously announced sales target of €8 billion by 2020, the group said.