FMC Corporation submits regulatory applications in eight countries for Dodhylex™ active

Rhea-AI Summary

FMC (NYSE: FMC) has submitted regulatory applications for Dodhylex™ active herbicide in eight major rice-growing countries, covering 35% of global rice acreage. Dodhylex™ active, classified as a Group 28 herbicide, is the first new mode of action herbicide in over 30 years. It offers season-long control of resistant grass weeds in rice and is being researched for use in other crops. FMC expects to launch Dodhylex™ active in 2026, pending regulatory approvals. This innovation demonstrates FMC's commitment to combating herbicide resistance and supporting food security.

Positive

• First new mode of action herbicide globally in over three decades
• Regulatory applications submitted in eight countries covering 35% of global rice acreage
• Offers season-long control of resistant grass weeds in rice
• Potential for use in additional crops like sugarcane, wheat, soybean, and corn
• Expected to contribute to FMC's near and long-term growth

Negative

• None.

Insights

Agricultural Sciences Expert

FMC's submission of regulatory applications for Dodhylex™ active herbicide marks a significant milestone in agricultural innovation. As the first new mode of action herbicide in over 30 years, it addresses a critical need in rice farming. The herbicide's ability to control resistant grass weeds in rice, a grass crop itself, is a remarkable achievement.

The potential impact on 35% of global rice acreage is substantial, considering the targeted countries. This innovation could lead to increased crop yields and improved food security. The herbicide's classification as a Group 28 by HRAC and WSSA underscores its unique mechanism, offering a vital tool for resistance management. The ongoing research into its application in other crops like sugarcane, wheat, soybean and corn suggests a broader market potential, which could significantly boost FMC's future revenue streams.

Financial Analyst

FMC's development of Dodhylex™ active represents a potential game-changer for the company's market position. The herbicide's unique properties open up significant revenue opportunities in the global rice market, valued at over $34 billion in 2021. With plans to expand into other crop markets, FMC could see a substantial increase in its addressable market.

Investors should note the long-term growth potential this innovation brings to FMC's portfolio. The expected launch in 2026 aligns with the company's strategy for sustained growth. However, regulatory approval processes and market adoption rates will be critical factors to monitor. The investment in R&D that led to this breakthrough demonstrates FMC's commitment to innovation, which could drive shareholder value in the coming years.

Environmental Impact Analyst

Dodhylex™ active's introduction could have mixed environmental implications. On one hand, its effectiveness in controlling resistant weeds might reduce the overall quantity of herbicides used, potentially decreasing environmental impact. The ability to control grass weeds in rice without harming the crop could lead to more efficient land use and potentially reduce the need for land conversion for agriculture.

However, the introduction of a new active ingredient raises questions about its long-term ecological effects. While it addresses current resistance issues, there's a possibility of new resistances developing over time. Regulatory bodies will likely scrutinize its environmental safety profile closely. Stakeholders should monitor how this new herbicide affects biodiversity in rice ecosystems and its potential impact on water systems in rice-growing regions.

This first new mode of action herbicide in over 30 years will be an important tool for managing resistance

PHILADELPHIA, Aug. 20, 2024 /PRNewswire/ -- FMC Corporation (NYSE: FMC), a leading agricultural sciences company, recently submitted regulatory applications for Dodhylex™ active herbicide in eight rice-growing countries. Registration dossiers were submitted in India, Brazil, the Philippines, the United States, Colombia, South Korea, Peru and Taiwan, which account for approximately 35% of the estimated 165 million hectares of planted rice globally. Regulatory submissions for Dodhylex™ active are planned in additional key global markets.

Dodhylex™ active, FMC's brand name for tetflupyrolimet, has been classified by the Herbicide Resistance Action Committee (HRAC) and the Weed Science Society of America (WSSA) as a Group 28 herbicide, making it the first new mode of action herbicide globally in over three decades. Dodhylex™ active will be an important new rotational tool for growers to manage herbicide resistance, which poses an increasing challenge for growers worldwide.

"Dodhylex™ active is a significant advancement for the agriculture industry as it will help combat resistant grass weeds," said Dr. Seva Rostovtsev, FMC executive vice president and chief technology officer. "This is particularly remarkable because rice is a grass, and controlling grass weeds in a grass crop is challenging."

Studies show this proprietary molecule will offer season-long control of resistant grass weeds in rice, regardless of the cultivation method. FMC continues to research the use of Dodhylex™ active in additional crops, including sugarcane, wheat, soybean and corn.

"Dodhylex™ active is one of many new active ingredients in our robust development pipeline that will contribute to FMC's near and long-term growth," said Brian P. Angeli, FMC executive vice president and chief marketing officer. "There are opportunities to control resistant grass weeds in other crops, and we are exploring additional markets for Dodhylex™ active outside of rice. We believe this will expand our global addressable market in the future."

Dodhylex™ active, which was discovered and developed at FMC's Stine Research Center, is a testament to FMC's commitment to innovation and disciplined approach to advancing new molecules to help combat resistance and support food security for a growing population. Pending regulatory decisions, FMC anticipates the first launches of Dodhylex™ active in 2026.

For more information, please visit www.fmc.com/dodhylexactive

About FMC

FMC Corporation is a global agricultural sciences company dedicated to helping growers produce food, feed, fiber and fuel for an expanding world population while adapting to a changing environment. FMC's innovative crop protection solutions – including biologicals, crop nutrition, digital and precision agriculture – enable growers, crop advisers and turf and pest management professionals to address their toughest challenges economically while protecting the environment. With approximately 5,800 employees at more than 100 sites worldwide, FMC is committed to discovering new herbicide, insecticide and fungicide active ingredients, product formulations and pioneering technologies that are consistently better for the planet. Visit fmc.com to learn more and follow us on LinkedIn^®.

Dodhylex is a trademark of FMC Corporation and/or an affiliate. Always read and follow all label directions, restrictions and precautions for use. Dodhylex™ active is not registered for sale or use in any country. No offer for sale, sale, or use of this product is permitted prior to the issuance of the required registrations by the relevant regulatory entity.  

Statement under the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995:  FMC and its representatives may from time to time make written or oral statements that are "forward-looking" and provide other than historical information, including statements contained in this press release, in FMC's other filings with the SEC, and in presentations, reports or letters to FMC stockholders. 

In some cases, FMC has identified these forward-looking statements by such words or phrases as "outlook", "will likely result," "is confident that," "expect," "expects," "should," "could," "may," "will continue to," "believe," "believes," "anticipates," "predicts," "forecasts," "estimates," "projects," "potential," "intends" or similar expressions identifying "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including the negative of those words or phrases. Such forward-looking statements are based on our current views and assumptions regarding future events, future business conditions and the outlook for the company based on currently available information. The forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any results, levels of activity, performance or achievements expressed or implied by any forward-looking statement. These statements are qualified by reference to the risk factors included in Part I, Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2023 (the "2023 Form 10-K"), the section captioned "Forward-Looking Information" in Part II of the 2023 Form 10-K and to similar risk factors and cautionary statements in all other reports and forms filed with the Securities and Exchange Commission ("SEC"). We wish to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made.  Forward-looking statements are qualified in their entirety by the above cautionary statement. 

We specifically decline to undertake any obligation, and specifically disclaims any duty, to publicly update or revise any forward-looking statements that have been made to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events, except as may be required by law. 

 

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SOURCE FMC Corporation

FAQ

What is Dodhylex™ active and when did FMC (NYSE: FMC) submit regulatory applications for it?

Dodhylex™ active is a new herbicide developed by FMC The company recently submitted regulatory applications for Dodhylex™ active in eight rice-growing countries in August 2024.

How does Dodhylex™ active herbicide differ from existing herbicides?

Dodhylex™ active is the first new mode of action herbicide globally in over 30 years. It has been classified as a Group 28 herbicide by HRAC and WSSA, making it a significant advancement in combating resistant grass weeds in rice cultivation.

In which countries has FMC (NYSE: FMC) submitted regulatory applications for Dodhylex™ active?

FMC has submitted regulatory applications for Dodhylex™ active in India, Brazil, the Philippines, the United States, Colombia, South Korea, Peru, and Taiwan. These countries account for approximately 35% of global rice acreage.

When does FMC (NYSE: FMC) expect to launch Dodhylex™ active herbicide?

Pending regulatory decisions, FMC anticipates the first launches of Dodhylex™ active in 2026.