Monsanto Giving Up
Monsanto to Pursue Divestiture of POSILAC
Last update: 10:17 a.m. EDT Aug. 6, 2008
ST. LOUIS, Aug 06, 2008 /PRNewswire via COMTEX/ -- ST. LOUIS, Aug. 6 /PRNewswire-FirstCall/-- Monsanto Company (MON:
MON 107.86, -1.54, -1.4%) 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.
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