Insecticides India gets patents for two novel agrochemical compounds for 20 yrs

Agro-chemicals firm Insecticides India Ltd (IIL) on Monday said that it has secured patents for two novel agrochemical compounds for a term of 20 years.

The patent secured from the Government of India is for Novel Miticidal Benzyalamide and Novel Dithiolane, which will be used as foundation active ingredients for various fungicide and insecticide compositions for agricultural and horticultural use, the company said in a statement.

IIL said it is too early to estimate the revenue from these patents as these products have to go through a rigorous registration process.

The company has already begun working upon developing various new-end products for farmers based on these novel compounds, and they are expected to be launched by 2026-27, it said.

Innovation, patent filings and product registrations, are ongoing processes that the company's R&D centre is continuously working on in order to provide latest and innovative technologies for farmers, IIL Managing Director Rajesh Aggarwal said.

''We are optimistic that our patented agrochemical compounds, as well as the other products which are currently in development, will assist our farmers in better crop protection and increasing their yields,'' Aggarwal added.

Aggarwal also said that the company's profits will continue to grow year after year as new products are introduced in the market.

IIL has a total of 17 granted patents in the country and more than dozen patents are also in process, ''We've launched a slew of new products this year, as well as completed our expansion. Despite the fact that raw material prices have risen and we now have to sell them, the market has shown a high level of acceptance of the prices, and we expect our margins to grow with new products added to the kitty,'' he added.

The new products will also be sold in the international markets under an agreement between OAT Agrio and IIL, with OAT marketing them in some territories and IIL marketing them in others, the company said.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)