American Vanguard Withdraws Dacthal Registration
21 Agosto 2024 - 3:00PM
Business Wire
Product Was Suspended by EPA Based on One
Rodent Study
American Vanguard Corporation (NYSE: AVD) today announced that,
following its decision in April 2024 to voluntarily stop sales of
Dacthal herbicide products, the Company has submitted to the
Environmental Protection Agency (“EPA”) voluntary cancellation
requests for all of its federal registrations of those products.
Those registrations are currently the subject of an emergency
suspension order that was issued by EPA on August 6, 2024.
In connection with its action, the Company made the following
statements.
While the Company continues to question EPA’s conclusions in
support of the suspension, we believe that the best course of
action is to voluntarily cancel registrations of this product. We
are working apace with both state and federal authorities to effect
product return and to remove Dacthal from channels of distribution.
It is the Company’s position that product stewardship be
international in scope; thus, we will now proceed to voluntarily
cancel all international registrations as well.
It is important to note that EPA’s findings are based upon the
test results of a single, relatively new study that the Company had
provided to the agency over two years ago which showed an effect on
fetal rodents at certain dose levels. As is typically the case with
such studies, the observed effect was extrapolated to indicate a
potential effect upon human beings. The suspension order, then, was
issued by EPA on the premise of preventing potential harm, rather
than in response to an actual, reported harm. The Company had been
working with the EPA in good faith for over one year to identify
risk mitigation measures that might alleviate concerns and allow
continued use of high-benefit use patterns. However, these measures
apparently did not give the EPA sufficient certainty at the time.
The Company was also discussing with the EPA the potential for
completion of additional toxicology and exposure studies that may
have alleviated risk concerns, had they been afforded time to
proceed. The Company nevertheless thanks EPA for expending time and
resources to consider and evaluate the many proposed risk
mitigation measures.
About American Vanguard
American Vanguard Corporation is a diversified specialty and
agricultural products company that develops and markets products
for crop protection and management, turf and ornamentals management
and public and animal health. Over the past 20 years, through
product and business acquisitions, the Company has expanded its
operations into 21 countries and now has over 1,000 product
registrations in 56 nations worldwide. Its strategy rests on three
growth initiatives – i) Core Business (through innovation of
conventional products), ii) Green Solutions (with over 120
biorational products – including fertilizers, microbials,
nutritionals and non-conventional products) and iii) Precision
Agriculture innovation. American Vanguard is included on the
Russell 2000® and Russell 3000® Indexes. To learn more about
American Vanguard, please reference the Company’s web site at
www.american-vanguard.com.
The Company, from time to time, may discuss forward-looking
information. Except for the historical information contained in
this release, all forward-looking statements are estimates by the
Company’s management and are subject to various risks and
uncertainties that may cause results to differ from management’s
current expectations. Such factors include weather conditions,
changes in regulatory policy and other risks as detailed from
time-to-time in the Company’s SEC reports and filings. All
forward-looking statements, if any, in this release represent the
Company’s judgment as of the date of this release.
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version on businesswire.com: https://www.businesswire.com/news/home/20240821214524/en/
Company Contact: American Vanguard Corporation Anthony Young,
Director of Investor Relations (949) 260-1200
anthonyy@amvac-chemical.com
Investor Representative: The Equity Group Inc.
www.theequitygroup.com Lena Cati Lcati@equityny.com
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