Home / Business and Economy / Bayer Crop Science Unveils Two Major New Products
Bayer Crop Science Unveils Two Major New Products
2 Sep
Summary
- Two new products launched, each projected to exceed €500 million in sales.
- Plenexos insecticide and Preceon short-stature corn are now available.
- Bayer aims for a €1 billion EBITDA improvement by decade's end.
Bayer's Crop Science business has successfully introduced two of its ten anticipated new products, each boasting potential peak annual sales of at least €500 million. The Plenexos insecticide has already reached markets in Colombia, with Mexico, Brazil, and the United States set to follow. Concurrently, the Preceon short-stature corn, accompanied by related services, has been launched in Mexico, Italy, Spain, and the United States.
Further market introductions are planned in the coming years, including advancements in soy technology. Bayer reaffirmed its ambitious financial targets for the division, aiming for a €1 billion improvement in EBITDA before special items and achieving an EBITDA margin before special items in the mid-20s percentage range by the close of the decade. The company has also made substantial progress in cost reduction efforts, accumulating nearly €400 million to date.
