ST. LOUIS, Oct. 2 /PRNewswire-FirstCall/ -- Monsanto Company (NYSE:
MON) announced that it has completed the sale of its POSILAC(R) 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.
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/.
SOURCE Monsanto Company
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Related links:
http://www.monsanto.com
http://www.prnewswire.com/comp/114341.html/
CONTACT:
Danielle Jany of Monsanto Company,
+1-314-694-2478
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