Dow AgroSciences Elaborates On Growth Equation
Dow AgroSciences’ growth equation for the future was the focus of a presentation to investors made by Antonio Galindez, president and CEO of Dow AgroSciences. Galindez spoke to investors last week at the Goldman Sachs 14th Annual Agricultural Biotech Forum in New York City. At the conference, Galindez reinforced the company’s commitment to technology and innovation.
A key part of the company’s growth equation is its agrochemical pipeline. “Dow AgroSciences is ramping up or planning to launch five new agrochemical products between 2008 and 2012 that will create growth in new geographies and new uses,” Galindez says. In fact, the company expects more than $800 million of the company’s sales will come from new products by 2013. Sulfoxaflor, a new insecticide in the pipeline anticipated to launch in 2012, was cited as an example of an innovative product. It will address a $2 billion market segment where needs are currently unmet by a biotechnology solution.
As a technology-driven company, another important element of Dow AgroSciences’ growth equation is to rapidly advance game-changing biotechnology solutions such as SmartStax, the corn industry’s eagerly anticipated seed trait combination launching in 2010. Following SmartStax, the Dow AgroSciences Herbicide Tolerant Trait Technology (DHT) will bring an unsurpassed herbicide-tolerant solution for the weed issues farmers are facing today and tomorrow. When launched with SmartStax, DHT will be the world’s first nine-gene stack in corn and provide superior new weed control technology that enables growers to continue farming the way they want.
A final element of the growth equation is the considerable new investment being made by the company which will be highly leveraged based on a track record of innovation. “We have a highly productive and disciplined approach to investing in innovation, and the ability to advance competitive pipelines while spending less,” Galindez says. “As we increase investment in high value technology, we’ll keep that mindset and deliver even more value for shareholders.”