Poor spray sales humble AHP
A COLLAPSE in agrochemical sales has forced American Home Products (AHP) to warn that second-quarter earnings would be 17% below analysts expectations.
The US pharmaceutical giant said demand from farmers had dipped at the same time as the market had become more competitive – particularly in the market for soyabean weedkillers where Monsanto has carved out a 50% share.
AHP said it was reviewing “strategic alternatives” for the agricultural and veterinary health business.
It is assumed that a disposal could be on the cards.
- Financial Times 03/06/99 page 18