16.05.2023 14:00:00
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FMC Corporation and Syngenta to commercialize breakthrough technology that transforms grass weed control in rice in Asia
New herbicide technology, featuring first novel mode of action in over three decades, is set to be a game-changer for millions of rice farmers
PHILADELPHIA, May 16, 2023 /PRNewswire/ --
FMC Corporation (NYSE:FMC) and Syngenta Crop Protection announced today an agreement to bring to market a breakthrough technology to control weeds in rice in Asia. The new active ingredient, tetflupyrolimet, was discovered and developed by FMC with support from Syngenta for development in rice. It is the first major herbicide with a novel mode of action (DHODH – HRAC Group 28) in more than three decades, providing relief to farmers challenged by increasing weed resistance to existing herbicides.
Under the agreement, FMC and Syngenta both will bring tetflupyrolimet-based products to key rice markets in Asia. FMC will register and commercialize tetflupyrolimet, as well as a broad array of tetflupyrolimet formulations for rice throughout Asia. In the China rice market, FMC will focus on mixtures only. Syngenta will register and commercialize the compound and an array of products in China for the rice market, while offering mixtures for use on rice in India, Vietnam, Indonesia, as well as in Japan and South Korea. Syngenta will also commercialize the compound for rice in Bangladesh.
In addition, FMC will register and commercialize tetflupyrolimet and a full portfolio of tetflupyrolimet formulations in markets globally for rice and other crops.
"Tetflupyrolimet is a transformative herbicide that provides season-long control of important grass weeds with just one application in the growing season," said Diane Allemang, FMC executive vice president and chief marketing officer. "Due to its new mode of action, tetflupyrolimet has no known cross-resistance and will provide millions of growers around the world with a critical weed management tool. It provides outstanding residual control with very low dose rates and an exceptional sustainability profile."
Tetflupyrolimet enhances the yield and quality of rice production by controlling destructive grass weeds that compete with the crop for water, nutrients, light and space. In addition to being easy to apply in traditional transplanted rice, the herbicide is also highly suited to direct-seeded rice.
About FMC
FMC Corporation is a global agricultural sciences company dedicated to helping growers produce food, feed, fiber and fuel for an expanding world population while adapting to a changing environment. FMC's innovative crop protection solutions – including biologicals, crop nutrition, digital and precision agriculture – enable growers, crop advisers and turf and pest management professionals to address their toughest challenges economically while protecting the environment. With approximately 6,600 employees at more than 100 sites worldwide, FMC is committed to discovering new herbicide, insecticide and fungicide active ingredients, product formulations and pioneering technologies that are consistently better for the planet. Visit fmc.com to learn more and follow us on LinkedIn® and Twitter®.
Statement under the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995: FMC and its representatives may from time to time make written or oral statements that are "forward-looking" and provide other than historical information, including statements contained in this press release, in FMC's other filings with the SEC, and in reports or letters to FMC stockholders.
In some cases, FMC has identified these forward-looking statements by such words or phrases as "will likely result," "is confident that," "expect," "expects," "should," "could," "may," "will continue to," "believe," "believes," "anticipates," "predicts," "forecasts," "estimates," "projects," "potential," "intends" or similar expressions identifying "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including the negative of those words or phrases. Such forward-looking statements are based on our current views and assumptions regarding future events, future business conditions and the outlook for the company based on currently available information. The forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any results, levels of activity, performance or achievements expressed or implied by any forward-looking statement. These statements are qualified by reference to the risk factors included in Part I, Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2022 (the "2022 Form 10-K"), the section captioned "Forward-Looking Information" in Part II of the 2022 Form 10-K and to similar risk factors and cautionary statements in all other reports and forms filed with the Securities and Exchange Commission ("SEC"). Moreover, investors are cautioned to interpret many of these factors as being impacted as a result of the residual adverse impacts of COVID and governmental, business, and societal responses to COVID. We wish to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Forward-looking statements are qualified in their entirety by the above cautionary statement.
We specifically decline to undertake any obligation, and specifically disclaims any duty, to publicly update or revise any forward-looking statements that have been made to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events, except as may be required by law.
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SOURCE FMC Corporation
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