India’s Dhanuka Agritech to acquire two active ingredients from Bayer AG
By Venkatachari Jagannathan | 25 Nov 2024
Listed Indian crop input major the Rs.1,758.54 crore revenue Dhanuka Agritech Limited, on Monday said it has inked an agreement with German major Bayer AG securing the international rights to the active ingredients Iprovalicarb and Triadimenol.
The company was silent on the deal’s financials.
According to Dhanuka Agritech, the acquisition will enable to expand its foot print in more than 20 countries including in regions like Latin America, Europe, Middle East and Africa and Asia including India.
The two active ingredients were invented by Bayer AG.
Under this agreement, Dhanuka Agritech will get all the rights for manufacturing and sale of Iprovalicarb and Triadimenol in more than 20 countries.
Iprovalicarb is a fungicide from the Carboxylic Acid Amines (CAA) class, used for disease management caused by Oomycetes species in Horticulture crops.
Triadimenol is a well-established product used in seed treatment for cereals and cotton as a solo formulation and as a part of multiple treatment seasonal programme in coffee as a pre-mix.
Triadimenol is a SBI class 1, demethylation inhibitors (DMI) triazole fungicide to control various diseases, the company said.
The Indian company will also get the the global rights to the associated brand Melody (for Iprovalicarb) with sub-brands like Melody Duo, Melody Compact, Melodika and others.
As part of the Agreement, the companies have agreed on a transition plan that allows Dhanuka Agritech to provide seamless service, ensuring no disruption for growers and customers globally.
Dhanuka Agritech will be shifting the manufacturing of at least one of the products to India, leveraging its manufacturing unit at Dahej, Gujarat.
“Dhanuka is excited to embark on this journey with Bayer AG, as we expand our footprint in these key markets. This agreement not only strengthens our market presence but also reinforces our commitment to delivering exceptional products and services to customers worldwide” said Harsh Dhanuka, Executive Director - Dhanuka Agritech.
During the day, the company’s shares touched a high of Rs.1,550 and a low of Rs.1,482.45 after opening at Rs.1,491.