In early May, Corteva leaders shared the company’s milestones and outlooks for its products and technologies.
Before sharing its outlook with the $24 billion R&D pipeline ($9 billion in crop protection/$15 in seed), CEO Chuck Magro highlighted a handful of key product launches that have recently happened:
- Vorceed Enlist corn
- Pioneer brand A-series with Enlist E3 technology.
- Inatreq active is now joined by Adavelt active for fungicide products
“On product mix improvement, we are growing our portfolio of sustainably advantaged and differentiated products. We expect Spinosyn to cross a $1 billion in sales this year, and we’ve just launched Adavelt, the second of our product family of three naturally inspired fungicides that we expect to reach a $1 billion in combined peak sales,” Magro says.
He adds how Corteva is on track to have $1 billion franchises in insecticides, fungicides and herbicides.
Of products yet to come to market, Magro says the company plans to launch nine new AIs by 2035.
“We have a world-class R&D program with an industry-leading return on investment, creating the science and technology to help solve some of the world’s greatest challenges – including food security, climate change and the energy transition,” Magro says.
The company announced its newest herbicide brand–Bexoveld, a third-generation 6-Arylpicolinate herbicide, which provides broadleaf weed control in cereals. Bexoveld will be launched in North America in 2028 and in Europe in 2030–pending regulatory reviews.
Bexoveld will be offered in several pre-mixed formulations with leading Corteva herbicides. The company highlights that in addition to efficacy, Arylpicolinate herbicides are noted for their favorable regulatory, toxicological, and environmental profiles.
In seed, the company is working on launching:
- In corn: above and below ground insect control traits with multiple modes of action, including the Enlist weed control system
- In soybeans: next generation E3 products
“On the seed side, we are focusing on proprietary trait technology, an area where we have traditionally lagged, but now feel very confident in our position,” Magro says. “Over the period of 2020 to 2025, royalty expenses will be reduced by over 40%, while royalty income will almost triple.”
Another area for growth for the company will be biologicals with leaders targeting a $2 billion business for Corteva by 2035 (of a $30 billion total market). Magro highlights the company’s early 2023 acquisitions of Stoller and Symborg to help accelerate this growth.
