GSP Crop Science wins patent for insecticide formulation to combat whitefly insects

Mumbai, Sep 5 (PTI) Agrochemical company GSP Crop Science on Monday said it has won patent for its insecticide formulation to combat whitefly insects and expects this molecule to generate around Rs 400 crore revenue annually in the next few years.

The company has received the exclusive patent for its synergistic suspo-emulsion formulation of pyriproxifen and diafenthiuron (branded GSP SLR 525 SE formulation) from the Office of the Controller General of Patents, Designs and Trademarks, under the Department of Industrial Policy and Promotion, GSP Crop Science said in a statement.

Whiteflies damage crops in agriculture, horticulture and forestry. As per statistics, around 1.35 hectares of coconut and oil palm in India are affected by whiteflies.

"After almost eight years of blood and sweat, with the help of our R&D and legal team, we have been granted a patent for a combination product that will be of great advantage to the farmers.

"Our product SLR 525, which helps fight pest attack of whitefly in vegetables and cotton in all stages -- is the first of its kind in the Indian market. We project this molecule to generate revenue of almost Rs 400 crore yearly within the next few years. We expect the market for this product to grow even further," GSP Crop Science Managing Director Bhavesh Shah said.

With a turnover of Rs 1,200 crore annually and having four manufacturing units in Gujarat and Jammu and Kashmir, GSP Crop Science comprises more than 70 branded products that get marketed through a network of 5,000 distributors, over 30,000 dealers and 34 depots in India and exported to 25 countries. PTI SM HVA