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Eden Research PLC - Oxfordshire-based sustainable crop protection and animal health firm - Gets regulatory approval from the United States Environmental Protection Agency for all five petitions it submitted, covering three active ingredients and two formulated products. Ingredients are eugenol, geraniol and thymol, while the two products are Mevalone and Cedroz. Says the approval will bring ‘significant’ revenue opportunities to the company, with total market potential of about €94 million for Mevalone and €189 million for Cedroz.
Chief Executive Officer Sean Smith says: ‘We are among the very few British crop protection companies to receive approvals for multiple biopesticides in the US, and we believe we are the smallest company to achieve the ambitious goal of registering three active ingredients and two formulated products at once, thereby opening up one of the world's most important markets for agricultural inputs.’
Current stock price: 5.12 pence, up 36% on Monday
12-month change: down 45%
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