3/19/2013

Novozymes is planning to bolster its research and development budget for products aimed at the biofuel and agriculture sectors, said incoming CEO Peder Holk Nielsen. Novozymes, which accounts for 47% of the world's market for industrial enzymes, invested $265.8 million, or 14% of its revenue, on R&D in 2012, Nielsen said. In comparison, its biggest rival, DuPont, which holds 21% of the market, spent $2.1 billion on R&D, or 5.9% of its revenue.

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