ST. LOUIS, Aug. 6 /PRNewswire-FirstCall/-- Monsanto Company (NYSE: MON)
announced today that it is pursuing a divestiture of its dairy product,
POSILAC(R) 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(R) 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
media, Danielle Jany, +1-314-694-2478, or analysts, Scarlett Lee Foster,
+1-314-694-8148, both of Monsanto Company
