Mitsui Chemicals Agro, Inc. (MCAG) and BASF Sign Commercialization Agreement for New Insecticide with IRAC Novel Mode of Action
TOKYO & LIMBURGERHOF, GERMANY--(Business Wire / Korea Newswire) December 07, 2017 -- Mitsui Chemicals Agro, Inc. (MCAG) and BASF SE announced today the signing of a long-term agreement for the commercialization of Broflanilide, a new insecticide for chewing crop pests and non-crop pests control. This commercialization agreement follows the exclusive global license and development agreement between the two companies that was announced on June 11, 2014.
Under the terms of this agreement, MCAG granted BASF exclusive rights to market and sell Broflanilide products in certain markets worldwide, excluding Japan and certain Asian and other countries where MCAG holds exclusive and/or co-exclusive rights.
Broflanilide is a compound with a novel mode of action, demonstrating excellent efficacy in the control of many problematic chewing insect pests, including caterpillars and beetles in specialty and row crops, and non-crop pests such as termites, ants, cockroaches and flies. It has potential use applications in cereals as a seed treatment for control of wireworms, as well as for foliar use in leafy and fruiting vegetables, potato, soybean, cotton, corn and legumes. The active ingredient was discovered by MCAG and the co-development of the insecticide with BASF began in 2014.
The Insecticide Resistance Action Committee (IRAC) recently approved the classification of Broflanilide as a compound with a new mode of action in Group 30: GABA-gated Cl- channel allosteric modulators. As of today, Broflanilide is the only active ingredient in IRAC Group 30. Given its different chemistry, Broflanilide is a highly effective broad-use compound and a valuable new tool in Insecticide Resistance Management (IRM).
“We’re excited to continue leveraging the expertise and capabilities of each company to offer promising innovative solutions to growers and pest management professionals seeking alternatives to existing pest-targeting chemistries,” said Jürgen Huff, Senior Vice President Global Strategic Marketing, BASF Crop Protection.
“We are also confident that Broflanilide products, with their excellent performance and novel mode of action, can contribute to those in both agriculture and professional pest management seeking effective solutions,” said Shoichi Kondo, Head of MCAG's International Business Division. “This collaboration will contribute to our future growth.”
First market introductions of Broflanilide products are expected in 2020. The financial terms of this agreement were not disclosed.
About Mitsui Chemicals Group
Mitsui Chemicals (TOKYO: 4183) (ISIN: JP3888300005), which traces its roots back to 1912, has an annual sale of 1,200 billion yen in the fiscal year ending March 2017 and more than 130 companies with over 13,000 employees in 28 countries. As one of Japan’s leading chemical companies, Mitsui Chemicals contributes broadly to society by providing high-quality products and services to customers through innovations and creation of materials and products while keeping in harmony with the global environment. Its business portfolio includes materials for next-generation mobility, healthcare services, packaging, agrochemicals, electronic materials, and environment and energy sector. Mitsui Chemicals will continue to contribute to solving social challenges with its state-of-the-art technology and by “Creating New Customer Value through Innovation”. Mitsui Chemicals’ global agrochemical business is operated by its 100% subsidiary, Mitsui Chemicals Agro, Inc., who supplies innovative agrochemicals for crop protection and pest management. With a customer-centric point of view, The Company offers unique and effective products and services, and contributes to the sustainable, productive agriculture. Latest group news can be found at https://www.mitsuichem.com/en/.
About BASF’s Crop Protection division
With a rapidly growing population, the world is increasingly dependent on our ability to develop and maintain sustainable agriculture and healthy environments. BASF’s Crop Protection division works with farmers, agricultural professionals, pest management experts and others to help make this possible. With their cooperation, BASF is able to sustain an active R&D pipeline, an innovative portfolio of products and services, and teams of experts in the lab and in the field to support customers in making their businesses succeed. In 2016, BASF’s Crop Protection division generated sales of €5.6 billion. For more information, please visit us at www.agriculture.basf.com or on any of our social media channels.
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BASF Media Contact:
+49 621 60-28013
Mitsui Media Contact:
Mitsui Chemicals Agro, Inc.
+81 3 5290 2719
This is a news release distributed by Korea Newswire on behalf of this company.