Insecticides (India) Ltd gets two new patents that will last for 20 years
Insecticides (India) Ltd said that the Centre for Novel Miticidal Benzyalamide and Novel Dithiolane compound has given it two patents that will last for 20 years.
Insecticides (India) Ltd said in a statement that the patents cover both new compounds and the agrochemical products made from them. The new compounds that have been patented will be used as the main active ingredients in fungicides and insecticides used in agriculture, horticulture and gardening.
‘At Insecticides India Ltd, we believe in R&D and have been working on it since the beginning. We keep coming up with new ideas and filing patents in different areas to protect them. We have several research and development centres working on different things. These two patents are the result of the hard work and dedication of IIL’s joint venture with OAT Agrio Co. Ltd, said Rajesh Aggarwal, Managing Director of Insecticides (India) Ltd.
‘IIL has 17 patents in the country that have been approved, and more than a dozen more are in the process of being approved. Our R&D centre is always working on new ideas, filing patents, and registering products so that our farmers can have access to the most up-to-date technologies. We are hopeful that our patented agrochemical compounds and the other products we are working on will help our farmers protect their crops better and get more from their crops.’ Aggarwal said.
Diligent registration process
IIL also said that it was a little too early to guess how much money these patents would bring in because these two new compounds had never been made before and had to go through a strict registration process. Based on these new compounds, the company has already started making new end products for farmers. These products should be available by 2026 or 2027.
‘Our profits will keep going up year after year as long as we keep putting out new products. This year, we’ve released a lot of new products and finished our expansion. Even though the prices of raw materials have gone up and we now have to sell them, the market has been very accepting of the prices, and Aggarwal said, ‘We expect our margins to grow as we add more products to the mix.’
Under a deal between OAT Agrio and IIL, the new products will also be sold on international markets, with OAT selling them in some places and IIL in others.