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FMC partners with AgroSpheres for bioinsecticide research

EditorLina Guerrero
Published 05/09/2024, 07:01 PM

PHILADELPHIA - FMC Corporation (NYSE:FMC), a prominent player in the agricultural sciences industry, has entered into a research collaboration with biotech firm AgroSpheres. The partnership, announced today, is set to expedite the development of innovative bioinsecticides, aligning with FMC's strategic goals for the future.

The collaboration combines AgroSpheres' biodegradable encapsulation technology for RNA-based crop protection with FMC's extensive capabilities in testing and market introduction. This move follows FMC Ventures' investment in AgroSpheres last year, signaling a deeper commitment to sustainable agriculture.

Dr. Seva Rostovtsev, FMC's executive vice president and chief technology officer, emphasized the significance of the agreement, stating, "This collaboration is a testament to our dedication to innovation and excellence in crop protection." He highlighted the potential of RNA interference (RNAi) technologies in revolutionizing crop protection.

RNAi has shown potential in laboratory settings but has faced challenges in consistent commercial application. AgroSpheres' patented technology aims to address this by producing RNA biomolecules with enhanced stability and targeted pest uptake. Ameer Shakeel, AgroSpheres' CTO, praised FMC for its foresight in adopting next-generation technologies to tackle resistance issues in crop protection.

FMC Corporation is known for its commitment to developing sustainable crop protection solutions, including biologicals and precision agriculture, to meet global agricultural demands while considering environmental impact. The company employs approximately 6,200 people worldwide.

AgroSpheres focuses on sustainable farming solutions that meet the challenges of global agriculture. Its mission is to make agriculture more productive and environmentally friendly to support a growing population.

InvestingPro Insights

FMC Corporation's recent collaboration with AgroSpheres underscores its commitment to sustainable agriculture and innovation, a sentiment echoed by its financial standing and market performance. With a robust market capitalization of $8.36 billion, FMC shows its significant presence in the agricultural sciences industry. The company's dedication to shareholder returns is evident, as it has raised its dividend for 6 consecutive years and maintained dividend payments for 19 consecutive years, showcasing financial resilience and a commitment to investors.

Investors may find FMC's current valuation compelling, as it is trading at a low P/E ratio of 7.46 relative to near-term earnings growth, suggesting a potential undervaluation in the market. Additionally, the company has demonstrated a strong return over the last three months, with a 26.47% price total return, indicating a positive investor sentiment and market momentum. This performance aligns with the company's strategic initiatives and its recent push into cutting-edge bioinsecticide research.

For those looking to delve deeper into FMC's financial health and future prospects, InvestingPro offers additional insights and metrics. There are 8 more InvestingPro Tips available for FMC, which can be explored further at InvestingPro. To enhance your research experience, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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