Natco Pharma on Friday said it has received registration approval from Central Insecticide Board & Registration Committee for Chlorantraniliprole, an active ingredient used in pest management products.
"Natco Pharma is pleased to announce its registration approval given by Central Insecticide Board & Registration Committee (CIB&RC)… for indigenous manufacture of Chlorantraniliprole (CTPR) Technical,” the company said in a regulatory filing.
Natco would be the first indigenous manufacturer of this technical product, the company added.
CTPR technical is formulated into broad-spectrum insecticides used in several crops for better pest management.
Natco said it hopes to bring products based on CTPR shortly that would be affordable and accessible to farmers across India.
CTPR is an active ingredient used in products commercialised by US-based chemicals maker FMC under brands Coragen and Ferterra.
The sales generated from CTPR containing products in India, inclusive of third-party marketing companies, as per declaration given by FMC was estimated to be Rs 1,540 crore in 2016, Natco said, adding that it believes the current market size to be over Rs 2,000 crore.
Natco said it has a pending litigation against FMC for declaration of freedom to use CTPR.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
