(Alliance News) - Plant Health Care PLC on Monday said it has submitted applications to the Mexican regulatory agency for approval of its PHC25279 and PHC68949 products.
The Manchester-based maker of biological products for agriculture said regulatory processes for agricultural products in Mexico involves "a detailed and comprehensive review of standard data requirements," and expects to receive regulatory approvals within one and two years.
PHC25279 and PHC68949 are part of its PREtec technology platform, also known as Vaccines for Plants, and are used on major crops to "provide specific benefits of improved disease and nematode control, plant health and yield."
PHC25279 is mainly used to control "a broad spectrum of plant diseases", and is particularly useful in the control of Gray Mold in berries, Downy Mildew in cucumbers and Late Blight in tomatoes, Plant Health Care said, adding that additional PHC25279 product label claims against various other plant pathogens will be added in the future. PHC68949 is used to increase plant health and yield "across a wide range of commercial crops."
Just last month, Plant Health Care's biochemical fungicide, PHC279, for the control of sugar cane and coffee disease was approved for use in Brazil.
The company added it is on track to generate USD30 million in revenue by 2025 "through the launch of new products and continued organic business growth through current and future distributor relationships."
Chief Executive Officer Jeff Tweedy said: "Mexico provides a tremendous opportunity for the adoption of these new products to support sustainable agriculture. Building on the current success of our ProAct biostimulant, our dedicated team in Mexico is already laying the groundwork for the commercial launch of these two new products once the regulatory licenses are granted. These registration submissions are key steps for Plant Health Care in meeting our USD30 million revenue target by 2025."
Shares in Plant Health Care were up 6.8% at 9.45 pence each in London on Monday morning.
By Sabrina Penty, Alliance News reporter
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Plant Health (PHC)