FMC: Shares Plunge as Short Seller Says Generic Competition Is Hitting Market Early

On Sept. 7, a short seller released a report asserting that FMC's diamide products, which generated 36% of revenue in 2022, have begun to see competition from generic producers. FMC's first diamide molecule went off patent last year. This report is in contrast to FMC management's prior statements that the company should not see the first generic sales until 2026 at the earliest because the company has key process manufacturing patents that will protect the premium diamide sales after the molecule patents expired.