Paraquat (brand name Gramoxone) has been on the market for over 40 years but is still possibly the most important product of Syngenta. Deutsche Bank estimates Syngenta's paraquat sales for the year 2002 at US$ 430 million, or 7% of the company's total revenue for that year.
Although the dangers of paraquat are well known and documented — after all, many countries including Switzerland have not approved its use — Syngenta has resisted widespread calls to end production of the herbicide. Evidently, Syngenta has its eye on the bottom line and not on the welfare of people in developing countries.
The value of Syngenta stock
Putting lives at risk for a bigger profit:
sales of paraquat have helped Syngenta double its market value since early 2003.
Although the dangers of paraquat are well known and documented — after all, many countries including Switzerland have not approved its use — Syngenta has resisted widespread calls to end production of the herbicide. Evidently, Syngenta has its eye on the bottom line and not on the welfare of people in developing countries.