Agri input maker Dhanuka Agritech has signed an agreement to acquire the international rights to active ingredients Iprovalicarband Triadimenol, invented by Bayer AG.
Iprovalicarbis a fungicide from the carboxylic acid amines class, used for disease management caused by oomycetes species in horticulture crops. Triadimenol is 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 demythalation inhibitor triazole fungicide to control various diseases.
Expanding footprint
With this acquisition, Dhanuka plans to expand its footprint in more than 20 countries, including the regions of Latin America, Europe Middle East and Africa and Asia including India, the company said. As part of the deal, Dhanuka Agritech will get all the rights for manufacturing and sale of Iprovalicarband Triadimenol in more than 20 countries. Dhanuka will acquire the global rights to the associated brand Melody (for Iprovalicarb) with sub-brands like Melody Duo, Melody Compact, Melodikaand others. The financials of the deal were not disclosed.
As part of the agreement, the companies have agreed on a transition plan that allows Dhanuka to provide seamless service, ensuring no disruption for growers and customers globally. Further, Dhanuka will be shifting the manufacturing of at least one of the products to India, leveraging the capabilities of its manufacturing unit at Dahej, Gujarat.
The agreement will strengthen Dhanuka’s market position by providing a jump to both the topline and bottom-line by selling its products in India and global markets. “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.