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Monsanto Get $300 Million for Cow Hormone
US - 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.
Lilly's animal health division, Elanco, headquartered in Greenfield, Indiana, has been marketing recombinant bovine somatotropin for Monsanto over the last decade outside the United States under a licensing agreement.
Posilac bovine somatotropin 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.
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