Drought-Tolerance Technology Crosses Another Key Regulatory Milestone
LONDON, March 10 /PRNewswire-FirstCall/ -- Monsanto's historic investment in research and development in breeding and biotechnology has contributed to a 24 percent compound annual growth rate for the company's Seeds and Genomics segment since 2001. This is one of the key messages Kerry Preete, Monsanto's Vice President of International Commercial, will tell investors today as part of a presentation at the Credit Suisse 14th Annual Global Ag Productivity Conference in London.
"Our R&D investment in technology has allowed us to build a robust pipeline of game-changing products focused on yield and stress," Preete will say. "We continue to be the leading company delivering innovations to farmers that help them maximize their farm's potential. That technology leadership has allowed us to commit to more than doubling our gross profit from 2007 through 2012 as we expand the availability of our technologies to farmers around the world."
The company recently applied to the U.S. Department of Agriculture (USDA) for approval of its drought-tolerant corn product, following submission to the Food and Drug Administration (FDA) last December. It also has completed submissions to the relevant Canadian agencies. In its final pipeline phase, this first-ever biotech drought-tolerant corn is part of a family of drought-tolerant products Monsanto plans to bring to the market over the next decade. This marks another key milestone in bringing this product one step closer to farmers and makes it the only dryland, drought-tolerant corn product to have regulatory submissions both to the FDA and the USDA.
Two new technologies emerging from Monsanto's R&D pipeline are Roundup Ready 2 Yield(TM) soybeans and SmartStax(TM) corn. Both products are expected to change the face of farming and bring farmers new tools to enhance productivity. SmartStax will be the most durable and complete on-farm package for weed and pest management, and will be the platform for the company's future corn technologies. Roundup Ready 2 Yield is expected to deliver a 7 to 11 percent yield benefit and will be the trait platform for future yield-enhancing soybean technologies.
Preete will note that the technologies that have lifted yields, lowered costs and increased productivity for U.S. farmers are rapidly becoming available throughout Latin America, particularly for new corn traits in Brazil and Argentina. "The combination of our high quality hybrids with new tools for insect protection through biotechnology have allowed us to gain share in Latin America this fiscal year, and have set the stage for the acceleration of the penetration of new trait technologies as we look to 2012," he will say.
While Preete's presentation will not be webcast, his presentation slides are available by visiting the company's Web site at www.monsanto.com/investors.
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: www.monsanto.com .
Cautionary Statements Regarding Forward-Looking Information:
Certain statements contained in this release are "forward-looking statements," such as statements concerning the company's anticipated financial results, current and future product performance, regulatory approvals, 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: continued competition in seeds, traits and agricultural chemicals; the company's exposure to various contingencies, including those related to intellectual property protection, regulatory compliance and the speed with which approvals are received, and public acceptance of biotechnology products; the success of the company's research and development activities; the outcomes of major lawsuits; developments related to foreign currencies and economies; successful operation of recent acquisitions; fluctuations in commodity prices; compliance with regulations affecting our manufacturing; the accuracy of the company's estimates related to distribution inventory levels; the company's ability to fund its short-term financing needs and to obtain payment for the products that it sells; 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.
Contact Media: Danielle Stuart (314-694-2478) Investors: Scarlett Lee Foster (314-694-8148)
SOURCE Monsanto Company