Bayer has today (Tuesday, April 23) unveiled plans to launch its first bioinsecticide product for arable crops.
The life sciences company has signed a new agreement with UK-based company AlphaBio Control to secure an exclusive license for a new biological insecticide.
The new product, which the German company is hoping to launch in 2028, will be the first available for arable crops, including oilseed rape and cereals.
Bayer said that the new bioinsecticide still requires further development and registration.
Bioinsecticide
The new bioinsecticide, discovered by AlphaBio, has potential for use against coleoptera insects such as the cabbage stem flea beetle (CSFB).
The insect can damage oilseed rape crops throughout the growing season and even cause seedling death.
The beetle is widespread in Ireland, the UK and throughout much of Europe, and damage caused by the pest can affect young plants and early leaves, resulting in stunted growth and poor plant health.
The as-yet-unnamed biological insecticide is part of Bayer’s commitment to help reduce the environmental impact of crop protection products by 30% by 2030 without negatively impacting crop yields and health.
“Farmers need innovative new solutions as they seek to continue to feed a growing population, overcome the impacts of climate change, and meet enhanced safety and sustainability standards,” Benoit Hartmann, head of biologics at Bayer’s Crop Science Division, said.
“Biocontrols are a perfect fit to our approach to scaling regenerative agriculture, and we’re excited to work to bring a new biological crop protection option to farmers that can be used for arable crops,” he said.
Many biological options are currently available for vegetable and horticulture crops, however Bayer said that arable crops require solutions that can be applied cost-effectively at larger scale in order to be competitive.
Ralf Glaubitz, head of global asset management for seed growth and biologics at Bayer’s Crop Science Division, said there is “major growth potential” for biological crop protections.
“We’re working to outgrow the market and achieve more than €1.5 billion in biological sales by 2035.
“That’s only going to happen if we innovate to solve the challenges that farmers face in all fields,” he said.
Bayer
Ahead of the company’s Annual General Meeting (AGM) this week, Bayer chief executive Bill Anderson forecasted lower profitability in 2024.
The company expects 2024 earnings before interest, taxes, depreciation and amortisation (EBITDA) to drop by between 3-9%.
Despite this, Anderson said the company will make progress in improving cash flow and strengthen its focus on working capital management.
“Our crop science and consumer health divisions expect a slow start to the year due to market dynamics, but we feel confident in our full year targets and the direction of our businesses,” he said.