St. Louis, Missouri
October 2, 2008
Monsanto Company (NYSE: MON) announced that it has completed
the sale of its POSILAC® bovine somatotropin brand and related
business to Eli Lilly and Company (NYSE: LLY). Under the terms
of the agreement, Lilly purchased assets and liabilities of
Monsanto associated with the POSILAC brand and related business
for an upfront payment of $300 million, plus additional
contingent consideration.
POSILAC bovine somatotropin is an FDA-approved animal
pharmaceutical used by U.S. dairy farmers to increase
productivity.
Monsanto Company is a leading global provider of
technology-based solutions and agricultural products that
improve farm productivity and food quality.
Monsanto remains focused on enabling both small-holder and
large-scale farmers to produce more from their land while
conserving more of our world's natural resources such as water
and energy. |
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