"Our goal is to develop integrated crop solutions that provide farmers with a full package of products and services for the entire growing cycle – from planting to helping their harvest arrive fresh and in perfect shape on the retail shelves," adds Dr. C. David Nicholson, Bayer CropScience's Head of Research & Development.
New products lift sales potential
"The seed and crop protection solutions we develop are geared towards helping growers address some of the most critical issues they face," says Peterson. "We believe the products in our pipeline of new seed, small molecules and biological crop solutions hold significant promise in the market, and expect the peak sales potential for our products being launched from 2011 to 2016 to be at least EUR 4 billion ($5.1 billion)," Peterson acknowledges.
Peterson emphasizes the company's seeds business – formerly referred to as BioScience – is set to continue its rapid pace of growth. "We expect Seeds to double to around 20% its contribution to the company's overall sales by 2016," she notes. The unit recorded a 21% leap in sales in the first half of this year. Growth is expected in oil crops, vegetables and wheat.
The Bayer CEO also notes the company has worked hard to change the way it approaches the marketplace. "We work in 120 countries but have figured out a way to work closely on the local level, sharing practices from around the world."
In summary, Peterson says, "We feel good about the marketplace, the business, our strategy and the future. We have the right focus."
She also notes the company will continue collaboration with public and private sectors.
Source: Bayer CropScience press conference, Monheim, Germany