Each blockbuster is expected to contribute more than 500 million euros of the over 32-billion-euros peak sales potential in the R&D pipeline – unparalleled across the global agricultural industry.
Bayer aims to launch ten blockbuster products in the next ten years to support farmers worldwide, the company announced at its 2024 Crop Science innovation update in Chicago. Each blockbuster is expected to contribute more than 500 million euros of the over 32-billion-euros peak sales potential in the R&D pipeline – unparalleled across the global agricultural industry. Farmers will benefit from new technologies that will help them produce more while restoring nature through innovations that power regenerative agriculture.
Unparalleled R&D pipeline with over 32 billion euros peak sales potential includes transformative technologies like the new broad-acre herbicide Icafolin, the biotech version of the Preceon Smart Corn System, fourth-generation corn rootworm technology, fourth- and fifth-generation soybean herbicide tolerance traits as well as third- and fourth-generation insect protection traits. Promoting and scaling regenerative agricultural practices are key to producing more while restoring nature – with R&D and digital technologies being key enablers . As the global innovation leader for agriculture, Bayer is demonstrating how its solutions can support food security and mitigation of climate change
Bayer is on its way to scale regenerative agriculture on more than 400 million acres globally by the middle of the next decade. The company considers regenerative agriculture as an outcome-based production model, with improving soil health as a key component, leading to increased resilience. Other key aspects include increased productivity; adaption and mitigation of climate change through reductions in greenhouse gas emissions; increased carbon sequestration in the soil; maintaining, preserving or restoring on-farm biodiversity; conserving water resources through improved water retention, reduction in water run-off, as well as improved social and economic well-being of farmers and their communities. In addition, Bayer is capitalizing on the opportunity to double its accessible market to more than 200 billion euros, driven by global market growth and investments into ag-adjacent spaces like biofuels, crop fertility, as well as digital platforms and marketplaces.
“Agriculture needs to change for the better, there’s no relying on what has been working in the past. We deliver a combination of unmatched innovation that goes hand in hand with key regenerative practices to help address two of the biggest challenges of our time: ensuring food security for a growing population and fighting climate change,” said Frank Terhorst, Head of Strategy and Sustainability at Bayer’s Crop Science Division.
Bob Reiter, Head of R&D, added: “The age of single and isolated technologies is over. We are focusing on closely connected agricultural systems that combine seeds, traits, crop protection and digital solutions in a smart way to benefit the farmers and the environment. To this end, we are leveraging key technology platforms like gene editing, precision breeding, small molecules and biologicals to deliver products that farmers need to make agriculture more productive while reducing the carbon footprint and fostering biodiversity at a global scale.”
