BASF Expects Crop-Protection Innovation Pipeline Sales of EUR3.5 Billion

   By Marc Bisbal Arias

BASF SE (BAS.XE) said Tuesday that it's on track to launch innovations from its crop-protection pipeline, and that peak sales are expected to be 3.5 billion euros ($4.31 billion) by 2027.

The German chemicals company said that several product candidates have reached development phases.

Plans to invest in innovation continue in order to expand its portfolio, BASF said. In the crop-protection division, BASF spent EUR507 million on research and development last year.

"The seed and trait research and development capabilities we plan to acquire from Bayer will further strengthen our innovation potential in relevant markets and key crops. They will also provide direct market access for our own trait discovery research," said Markus Heldt, president at BASF's crop-protection unit.

Write to Marc Bisbal Arias at marc.bisbalarias@dowjones.com

(END) Dow Jones Newswires

February 27, 2018 08:44 ET (13:44 GMT)

BASF (QX) (USOTC:BASFY)
Historical Stock Chart
From Aug 2024 to Sep 2024