Issue Date: August 25, 2008
Monsanto Sells Posilac To Lilly
Monsanto will sell its Posilac bovine somatotropin business to Eli Lilly & Co. for $300 million. Elanco, Lilly's animal health division, has marketed the recombinant hormone, which is used to increase cow milk production, for Monsanto over the past 10 years outside the U.S. under a licensing agreement. The company, which still has a small dairy genomics business, had announced it wanted to sell the Posilac business to concentrate on its core agricultural seeds and traits business. Elanco is the seventh largest animal health company in the world.
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