Syngenta AG (NYSE:SYT), which turned down a $4bn bid from Monsanto (NYSE:MON), said it’s speeding up the pace of innovation and has a pipeline of new technology with combined sales potential of more than $6bn.
The products include fungicides Adepidyn and Orondis that can be used on vegetables and specialty crops.
The agrochemical supplier said it has also made progress developing hybrid wheat, a product that could go on sale by the 2020 and have annual sales of more than $3bn.
Syngenta is working to build investor confidence in its go-it-alone strategy. Management has come under increasing pressure from shareholders after it rejected Monsanto's offer which the St. Louis, Missouri-based company had valued at 470 Swiss francs ($488) a share, or roughly $46bn.
In its efforts to appease investors, Syngenta has already announced plans to sell its vegetable seeds business in the next 12 months and a $2bn share buyback.
ADRs of Syngenta climbed 0.6% to $69.79 at 10 a.m. in New York. The stock has gained 8.9% this year.