R&D Pipeline Products Poised to Deliver Yield Benefits and Value to Farmers
LONDON, Sept. 11 /PRNewswire-FirstCall/ -- Monsanto Company (NYSE: MON)
sees a significant growth opportunity in continuing to create more yield
for farmers worldwide through its investment in plant biotechnology and
breeding, leading to more than doubling the company's 2007's gross profit
in 2012, Steve Padgette, Monsanto's vice president of biotechnology, will
tell investors. Padgette will deliver his remarks as part of the UBS Best
of Americas Conference on Friday in London. The opportunity for Monsanto is
global and exists not just with the technologies in hand, but with what is
yet to come in its R&D pipeline, Padgette will state.
"After more than 10 years of farmers planting biotech traits, the
prospects for growth are substantial," Padgette said. "The opportunity for
existing biotech traits outside the United States is nearly 275 million
acres and a little more than a third of those acres carry Monsanto's trait
technology currently."
The opportunity for international growth is most imminent and
substantial in Brazil and Argentina where Monsanto is launching new trait
packages. In Argentina, Monsanto has received approval for a double-stack
trait combination, YieldGard(R) Corn Borer with Roundup Ready(R) Corn 2,
and plans to offer the combination on more than 1 million acres in its
first year of introduction. In Brazil, Monsanto received planting approval
for the YieldGard Corn Borer trait and is planning for a 1 million to 2
million acre launch for the upcoming 2008-2009 season.
Padgette will also discuss the progress and momentum behind a number of
projects in Monsanto's R&D pipeline, highlighting key soybean and corn
projects.
"Yield is a priority for farmers," Padgette said. "When we ask farmers
today what they want from us in terms of new soybean products, they
universally say that they want us to bring the yield improvements they've
seen in corn to soybeans."
Padgette will announce that Monsanto's high-yielding soybeans, the
first biotech product in soybeans focused solely on improving yield,
delivered a 6 to 10 percent yield advantage in the company's recent Latin
American trials. The higher-yielding trait, which is part of the yield and
stress collaboration with BASF, will be stacked on top of Monsanto's
Roundup Ready 2 Yield(TM) soybean platform. Roundup Ready 2 Yield soybeans,
which deliver a 7 to 11 percent yield advantage over the popular first
generation Roundup Ready(R) technology, recently received regulatory
approval in China for importation, placing them one step closer to the
expected controlled commercial release on 1 to 2 million acres in 2009.
BASF Collaboration
Next week, Padgette will be speaking at a joint BASF and Monsanto
investor event held in Ghent, Belgium. Monsanto's collaboration with BASF
works to identify and commercialize novel yield and stress trait
technologies for farmers.
"We are extremely pleased with the progress in our yield and stress
collaboration with BASF," he said. "Since the start of the collaboration,
we have been able to increase the size of our yield and stress
transformation pipeline by one-third and have almost 175 field trial
locations. Over 90 percent of the genes nominated by BASF have been unique,
providing a nice complement to Monsanto's lead genes."
Webcast Information
Padgette's presentation slides and simultaneous audio webcast of the
UBS presentation may be accessed by visiting the company's web site at
http://www.monsanto.com/investors. Following tomorrow's live broadcast set
for 6:30 a.m. CT, a replay of the webcast will be available for two weeks
through this same link.
About Monsanto Company
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. To learn more
about our business and our commitments, please visit:
http://www.monsanto.com/.
Monsanto Company Cautionary Statements Regarding Forward-Looking
Information:
Certain statements contained in this release are "forward-looking
statements," such as statements concerning Monsanto's anticipated financial
results, current and future product performance, regulatory approvals,
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: continued competition in seeds, traits
and agricultural chemicals; the company's exposure to various
contingencies, including those related to intellectual property protection,
regulatory compliance and the speed with which approvals are received, and
public acceptance of biotechnology products; the success of the company's
research and development activities; the outcomes of major lawsuits;
developments related to foreign currencies and economies; successful
operation of recent acquisitions; fluctuations in commodity prices;
compliance with regulations affecting our manufacturing; the accuracy of
the company's estimates related to distribution inventory levels; the
company's ability to fund its short-term financing needs and to obtain
payment for the products that it sells; 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 report on Forms 10-Q and 10-K. 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
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Related links:
http://www.monsanto.com
http://www.prnewswire.com/comp/114341.html/
CONTACT:
Danielle Jany, +1-314-694-2478, for Monsanto
Company
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