The
Dow Chemical Company'
s (
DOW
) wholly owned subsidiary Dow AgroSciences LLC, entered into a drug
profiling agreement with Dualsystems Biotech. As per the agreement,
Dualsystems will use its technology to identify molecular targets
in Dow AgroSciences' agrochemical discovery program.
According to Dow AgroSciences, the deal will help the company
expanding its technological footprint and enable it to provide more
innovative solutions to its customers by speeding up the process of
discovery. On the other hand, Dualsystems will be able to maintain
its strategy of expanding its base by utilizing new technology and
ameliorating it further by tying up with more and more companies
internationally.
Dualsystems is a leading provider of screening services to the
international research community in the pharmaceutical, biotech,
agrochemical and cosmetic industries as well as in academia.
Following the tie-up, Dow AgroSciences' leading-edge crop
protection and plant biotechnology solutions will be able to meet
the challenges of the growing world.
In February 2012, Dow Chemical released its results for the
fourth quarter of 2011. The company earned 25 cents per share in
the quarter, missing the Zacks Consensus Estimate of 32 cents per
share as well as earnings of 47 cents per share in the prior-year
quarter.
For the full-year 2011, earnings were $2.54 per share, up
29% compared with $1.97 per share in 2010. Full-year earnings
were also lower than the Zacks Consensus Estimate of $2.83 per
share.
Though quarterly revenues inched up 2% to $14.1 billion, they
were below the Zacks Consensus Estimate of $14.4 billion. Sales
increased across all operating segments and geographic areas,
except in the Electronic and Functional Materials segment. Dow
AgroSciences posted record sales of $5.7 billion for 2011,
driven by increased customer adoption of new products and
successful growing seasons in all geographic areas.
DOW faces stiff competition from
EI DuPont de Nemours & Co
. (
DD
). Currently, the company has a Zacks #3 Rank on its shares which
translates into a short-term (1 to 3 months) Hold rating, but we
maintain a long-term (more than 6 months) recommendation of Neutral
on the shares of the company.
DU PONT (
EI
) DE (
DD
): Free Stock Analysis Report
DOW CHEMICAL (
DOW
): Free Stock Analysis Report
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