In our 2nd part of merger analysis, let’s see if the products that are left with Bayer after the divestitures and Monsanto’s products will overlap. In the table I will list out all of Monsanto’s non roundup (Glyphosate, dicambia) herbicides and non BT insecticides as all biotech related herbicides / insecticides are divested by Bayer. The information I got is from greenbook.net which list chemicals used for agricultural purposes for each company.
|Asana XL Insecticide||Pyrethroid||Licensed from Sumitomo. Use in Soya,Cotton,Peanuts,Corn…etc. Other licensees include Dupont, Valent. Bayer’s Baythroid XL is a competing Pyrethroid based insecticide but using a different active ingredient. Other competitors include Warrior from Syngenta and Ammo, Capture, Fury and Pounce from FMC.|
|Licensed from FMC.|
|Precept Insecticide||Tefluthrin||Soil applied insecticide against soil pests. Syngenta’s Force 3G, Force CS, Force Evo are competing products.|
|ACCELERON DC-309||Metalaxyl||Seed Treatment Fungicide. Quite a number of companies produce competing products like BASF, Bayer and Arysta.|
|ACCELERON DX-509||Ipconazole||Seed Treatment Fungicide. Arysta has a number of similar products. Valent has several combination seed treatment products with this active ingredient.|
|Acceleron DT-510||Myclobutanil||Seed Treatment Fungicide. Dow and Arysta have similar products. Numerous other companies also use this active ingredient in their fungicide.|
|Acceleron DX-109||Pyraclostrobin||Seed Treatment Fungicide. BASF has several products using this single active ingredient or products combined with other ingredients.|
|ACCELERON DX-612||Fluxapyroxad||Seed Treatment Fungicide. Only BASF has several products using this single active ingredient or products combined with other ingredients.|
|ACCELERON DX-709||Trifloxystrobin||Seed Treatment Fungicide. Only Bayer has several products with the same ingredient including Flint and Compass, GEM brands which directly compete. May have to divest one of these or Monsanto’s DX-709.|
|Acceleron IC-609||Clothianidin||Seed Treatment Fungicide. Valent, Bayer and Arysta has several products with this ingredient.|
|ACCELERON IDL-810||Difenoconazole, Fludioxonil, Mefenoxam, Thiamethoxam||Seed treatment Insecticide with 4 active ingredients. Syngenta’s Adage brand is probably the closest competitior but no other company has a Seed treatment Insecticide with all 4 ingredients.|
|ACCELERON INT-210||Abamectin, Thiamethoxam||Seed Treatment Insecticide with 2 active ingredients. Again no other company product with these 2 ingredient but Syngenta, Nufarm and Ensystex have similar competing products.|
|ACCELERON INT-710 / DX-409||Imidacloprid, Thiodicarb||INT-710 is a Seed Treatment Insecticide with 2 active ingredients while DX-409 only contains Imidaclorid. No other company product with these 2 ingredient but some companies include Bayer have similar competing products like Absolute brand for DX-409 and Admire brand and AERIS brand for INT-710.|
|Certainty / Outrider||Sulfosulfuron||This is a herbicide for turf. No competing products seemed to be available.|
|CONFIDENCE, Harness, Warrant||Acetochlor||This is a pre-emergence herbicide. Loveland and Dow have competing products.|
|Confidence Xtra, Degree Extra||Acetochlor, Atrazine||This is a pre-emergence herbicide. Syngenta and several companies have competing products.|
|ROWEL||Flumioxazin||This is a pre-emergence herbicide. Dupont, Valent, Nufarm and several companies have competing products.|
|ROWEL FX||Chlorimuron-ethyl, Flumioxazin||This is a pre-emergence herbicide. No other companies offer the same combination ingredient but Dupont, FMC, Valent and Nufarm have competing products which offers either one ingredient.|
|TRIPLEFLEX II||Acetochlor, Clopyralid Monoethanolamine Salt, Flumetsulam||This is a pre-emergence herbicide. DowDupont’s SureStrike and other companies have competing products.|
From the table above, we can see that some Bayer seed treatment herbicides and insecticides that overlaps with Monsanto’s products. Bayer may need to divest Monsanto’s products or sell some of its seed treatment products to satisfy regulators. The number of divestitures are likely not to be excessive as Bayer still have a wide range of proprietary crop protection products that do not overlap.
On 9th April 2018, WSJ has already reported rumors that additional divestitures by Bayer in the area of seed treatment and digital farming, in addition to the sales of vegetable seeds business, had satisfied DOJ’s concerns.