ST. LOUIS, Oct. 2 /PRNewswire-FirstCall/ -- Monsanto Company announced that it has completed the sale of its POSILAC(R) bovine somatotropin brand and related business to Eli Lilly and Company . 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/.