Poor spray sales humble AHP

03 June 1999

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