Bayer Gets US Nod for Stratego Soya Rust Fungicide
Date: 14-Jan-05
Country: GERMANY
The company said it now had two products already proven effective in Brazil for use against the disease. It already has approval for its Folicur fungicide.
Emergency exemption approvals are given for products when a serious disease arises, cutting short the normal registration process that could take two to four years, a Bayer spokesman said.
Fungicides are the only short-term way to protect crops from Asian soybean rust, a highly contagious windborne disease that has infected the southern part of the United States, the world's top soybean producer.
The Asian rust disease in South America resulted for strong demand for fungicides last year, driving sales at Bayer, BASF and Swiss agrochemicals market leader Syngenta.
The US Agriculture Department believes the disease was blown into the US Gulf Coast from South America by Hurricane Ivan in mid-September.
Folicur had sales of 315 million euros ($417 million) in 2003 and 300 million euros in the first nine months of 2004. Stratego is a part of the Flint family of products which had sales of around 200 million euros in 2003.
Bayer shares were up 1 percent at 23.75 euros at 1227 GMT, outperforming the DAX bluechip index, which was up 0.1 percent.