Corteva, Inc. completed the spin-off of its seed and genetics business into Vylor Inc. on Thursday, leaving Corteva as a pure-play global crop protection company and Vylor as an advanced seed and genetics business. Corteva said the separated business increased revenue by more than $1 billion between 2020 and 2025. Its crop protection pipeline is valued at $11 billion, with 12 new active ingredients planned over the next decade, including five biological products. Corteva expects net sales to rise from approximately $7.8 billion in 2026 to between $8.4 billion and $8.7 billion by 2029, implying roughly 3% compound annual growth at the midpoint. Standalone operating EBITDA is projected to increase from approximately $1.3 billion to between $1.45 billion and $1.65 billion over the same period, representing a 6% compound annual growth rate at the midpoint, while EBITDA margins are expected to exceed 18% by 2029. The company also expects $300 million in gross productivity benefits from 2027 through 2029 and more than $200 million in net cost improvements after inflation and tariff offsets. Most remaining inflation and tariff pressure is expected in 2027. Corteva said its seed-treatment portfolio grew to about $500 million from roughly $400 million before the separation. Vylor's $19 billion technology pipeline includes 12 major platform launches across corn, soybeans and wheat over the next decade. The company plans seven corn technology platforms beginning in 2028, including a yield and yield-stability trait that produced an average three-bushel-per-acre gain in trials, with increases of up to 10 bushels. Vylor is also developing gene-edited, multi-disease-resistant corn and plans four soybean platforms by 2035. Its soybean plans include a proprietary Latin American technology offering broad-spectrum insect control, strong yields and licensing opportunities. Vylor's Xpedite hybrid wheat system is expected to launch in North America in late 2027, with trials showing strong yields and resilience to disease and drought. Through Vylor One, licensing income is expected to exceed $500 million in 2027, reach $1 billion by 2035 and approach $2 billion by 2040. Vylor targets 2029 net sales of $11.2 billion to $11.9 billion and operating EBITDA of $3.3 billion to $3.7 billion. At the time of publication on Friday, Vylor shares were up 2.56% at $70.01 and Corteva shares were down 5.09% at $11.93, according to Benzinga Pro data.