Aug 6, 2008
ST. LOUIS, Aug. 6 /PRNewswire-FirstCall/ -- Monsanto Company (NYSE: MON) announced today that it is pursuing a divestiture of its dairy product, POSILAC® bovine somatotropin, in the upcoming months. Additional details have not been disclosed at this time.
"While POSILAC is a strong product for the business, we believe repositioning the business with a strategic owner will allow Monsanto to focus on the growth of its core seeds and traits business while ensuring that loyal dairy farmers continue to receive the value of POSILAC in their operations," said Carl Casale, Monsanto's Executive Vice-President of Strategy and Operations.
POSILAC is an FDA-approved animal pharmaceutical used by U.S. dairy farmers to increase productivity. Since it was first sold in the United States in 1994, POSILAC has become the country's leading dairy animal supplement. Supplementing dairy cows with POSILAC safely enhances milk production and serves as an important tool to help dairy producers improve the efficiency of their operations and produce more milk more sustainably. POSILAC helps farmers with herds of all sizes produce more milk per cow. This increase in production provides dairy farmers with additional economic security by increasing the return on their overall investment. Cows supplemented with POSILAC produce an average of 10 lb. more milk per day.
A recent study conducted by several researchers at Cornell University highlighted the role of POSILAC as an on-farm dairy tool that can effectively reduce the environmental impact of dairy operations. The Cornell study can be accessed online at http://www.ansci.cornell.edu/bauman/envir_impact/.
About Monsanto Company
Monsanto Company is a leading global provider of technology-based solutions and agricultural products that improve farm productivity and food quality. For more information, please visit the company's web site at http://www.monsanto.com/.
POSILAC® is a registered trademark of Monsanto Company and its wholly-owned subsidiaries.
Cautionary Statements Regarding Forward-Looking Information:
Certain statements contained in this release are "forward-looking statements," such as statements concerning the company's current and future product performance, business and financial plans and other non-historical facts. These statements are based on current expectations and currently available information. However, since these statements are based on factors that involve risks and uncertainties, the company's actual performance and results may differ materially from those described or implied by such forward-looking statements. Factors that could cause or contribute to such differences include, among others: the company's exposure to various contingencies, including those related to intellectual property protection, and public acceptance of biotechnology products; the outcomes of major lawsuits; developments related to foreign currencies and economies; fluctuations in commodity prices; compliance with regulations affecting our manufacturing; the accuracy of the company's estimates related to distribution inventory levels; the effect of weather conditions, natural disasters and accidents on the agriculture business or the company's facilities; and other risks and factors detailed in the company's most recent periodic report to the SEC. Undue reliance should not be placed on these forward-looking statements, which are current only as of the date of this release. The company disclaims any current intention or obligation to update any forward-looking statements or any of the factors that may affect actual results.
SOURCE: Monsanto Company
CONTACT: media, Danielle Jany, +1-314-694-2478, or analysts, Scarlett
Lee Foster, +1-314-694-8148, both of Monsanto Company
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