Dow raises spending for product launches
Dow AgroSciences recorded a sharp increase in expenditure in 2008 as it prepares for some major product launches over the next two years. Selling, administrative and research and development (SARD) expenses were up by 15% over the previous year, president and CEO Jerome Peribere told analysts at the Goldman Sachs Agricultural Biotech Forum in New York, US, this month. That brought the compound annual growth rate (CAGR) for SARD between 2001 and 2008 to 3%, compared with a 1% figure for the 2001-2007 period. The elevated level of spending is set to continue, Mr Peribere noted.