In a bid to expand its fungicide portfolio,
) has inked a research and development deal with Italian chemical
company, Isagro S.p.A., to jointly develop broad spectrum
fungicide. The financial terms of the deal were not disclosed.
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Isagro is a leader in the field of agrochemicals and focuses
primarily on research and development of new proprietary molecules
and other active ingredients with low environmental impact. Isagro
operates in 70 countries across the globe and has production
facilities in 5 sites.
Fungicides are chemical compounds or biological organisms that kill
or inhibit fungi or fungal spores. Fungicides prevent or inhibit
the spread of plant disease which can harm both crop yields and
quality. In general, fungicides are either preventative or curative
and are also segmented being contact, translaminar or systemic,
depending on the extent to which the product is taken up by the
crop plant. Fungicides are used on a wide variety of crops such as
fruits, vegetables, soybean, cereals and rice.
The companies have partnered to jointly produce the new
carboximide-class fungicide to be sold globally. The new
product will be used for crop protection against diseases.
The agreement with Isagro will expand the vast fungicide portfolio
of FMC Corp. The deal is in line with its strategy to produce
innovative and effective crop protection technologies.
FMC Corp. reported adjusted earnings of 92 cents per share in
second-quarter 2012, beating the Zacks Consensus Estimate of 90
cents. Revenues rose 11.5% year over year to $905.2 million,
missing the Zacks Consensus Estimate of $906 million.
FMC Corp. is a leading diversified chemical company that serves
agricultural, industrial, environmental and consumer markets across
the globe. It operates its businesses in three segments:
Agricultural Products, Specialty Chemicals and Industrial
FMC Corp. faces tough competition from companies like
The Dow Chemical Company
E.I. du Pont de Nemours and Company
). It retains a short-term Zacks #3 Rank (Hold).