Plant Health Care - New Product Regulatory Approval In Brazil
18/08/2023 07:00
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RNS Number : 7053J Plant Health Care PLC 18 August 2023
18 August, 2023
PLANT HEALTH CARE plc
("Plant Health Care" or the "Company")
Brazil approves PHC279 to Control Diseases of Sugar Cane and Coffee
Plant Health Care® (AIM: PHC.L), a leading provider of novel
patent-protected biological products to global agriculture markets, is pleased
to announce that its biochemical fungicide, PHC279, for the control of sugar
cane and coffee disease has received federal approval in Brazil.
Brazil is the world's largest producer of sugar cane and coffee. In the
2023/24 season, the area planted with sugar cane in Brazil is forecast to be
9.8 million hectares and more than 2.5 million hectares for coffee. In the
2021/22 season, Brazilian farmers spent more than US$46m on the control of
sugar cane diseases and more than US$127m on the control of coffee diseases.
PHC279 was submitted for regulatory approval in December 2022 as a
foliar-applied product for the control of sugar cane orange rust (Puccinia
kuehnii) and coffee leaf rust (Hemileia vastatrix). PHC279 is the active
ingredient in the Company's product Saori(®), which is successfully being
used in Brazil as a seed treatment for the control of soybean diseases.
PHC279 originates from the Company's PREtec technology platform (Vaccines for
Plants(TM)). Derived from natural proteins, PREtec is an environmentally
friendly technology which stimulates crop growth, enhances the ability to
withstand a variety of abiotic stresses, improves disease control, plant
health and yield. The environmentally friendly profile and unique mode of
action of PHC279 is expected to lead to its wide adoption by Brazilian sugar
cane and coffee growers. The Company is currently in discussions with
potential distribution partners in anticipation of product launch during 2024.
The regulatory process in Brazil for agricultural products involves detailed
review and approval by three government agencies. The Ministry of
Agriculture establishes a product's agronomic recommendations; the National
Health Surveillance Agency checks for safety, while the Brazilian Institute of
Environment and Renewable Natural Resources classifies the environmental
hazard profile of the product, to ensure its use does not pose a threat to the
environment. PHC279 passed through this process with approval from all three
agencies in less than a year, confirming the Brazilian government's commitment
to promoting effective and environmentally friendly products.
Plant Health Care continues to scale in markets around the world and is
growing its relationships with major global distribution partners. The Company
is on track to achieve revenue of $30 million by 2025 through the launch of
new products and organic business growth through current and future
distributor relationships.
Jeff Tweedy, CEO of Plant Health Care, said: ‟Building on the success of
Saori use in soybeans and the continued growth of H2Copla use in sugar cane,
this new registration will bring the benefits of PHC279 to sugar cane and
coffee growers and expand Plant Health Care's current business in Brazil. This
product will help Brazilian farmers sustainably produce crops and supports the
Company's vision to be a leading global provider of peptides for agricultural
production."
For further information, please contact:
Plant Health Care plc
Jeff Tweedy, CEO
+1 919 926 1600
Cenkos Securities plc - Nomad & Broker
Neil McDonald / Pete Lynch
+44 (0) 131 220 9771
SEC Newgate (Financial Communications) +44 (0)7540 106 366
Robin Tozer / Harry Handyside / George Esmond phc@secnewgate.co.uk (mailto:phc@secnewgate.co.uk)
About Plant Health Care
Plant Health Care offers products to improve the health, vigour and yield of
major field crops such as corn, soybeans, potatoes and rice, as well as
specialty crops such as fruits and vegetables. We operate globally through
subsidiaries, distributors and supply agreements with major industry partners.
Our innovative, patent-protected biological products help growers to protect
their crops from stress and diseases, and to produce higher quality fruit and
vegetables, with a favourable environmental profile.
Find out more at www.planthealthcare.com (http://www.planthealthcare.com/)
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