Rising costs of bringing a new #cropprotection product to market in Australia compared to the rest of the world, could mean our farmers miss out on important innovations. A new report reveals the journey from discovery to market for just one #cropprotection chemical active constituent now exceeds 12 years and costs more than AUD$440 million. The global costs of research and developments (R&D) into new active ingredients are climbing even faster with individual company budgets soaring by 82% in 5 years. Read the full article in the latest issue of CropLinks: https://ow.ly/fXAY50UlmBY
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The comprehensive journey from discovery to market for a new #cropprotection product now spans over 12 years with a staggering financial investment exceeding $301 million USD (approximately $460 million AUD) according to a study published on behalf of CropLife International in February 2024. This makes it all the more imperitive to ensure we steward established, legacy #pesticides in a safe and sustainable manner. New #cropprotection products are simply increasingly hard to find - and develop! The study "Time and Cost of New Agrochemical Product Discovery, Development and Registration" can be accessed here: https://ow.ly/gOpI50R3Qfa
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