LONDON, Sept. 11 /PRNewswire-FirstCall/ -- Monsanto Company sees a significant growth opportunity in continuing to create more yield for farmers worldwide through its investment in plant biotechnology and breeding, leading to more than doubling the company’s 2007’s gross profit in 2012, Steve Padgette, Monsanto’s vice president of biotechnology, will tell investors. Padgette will deliver his remarks as part of the UBS Best of Americas Conference on Friday in London. The opportunity for Monsanto is global and exists not just with the technologies in hand, but with what is yet to come in its R&D pipeline, Padgette will state.
“After more than 10 years of farmers planting biotech traits, the prospects for growth are substantial,” Padgette said. “The opportunity for existing biotech traits outside the United States is nearly 275 million acres and a little more than a third of those acres carry Monsanto’s trait technology currently.”
The opportunity for international growth is most imminent and substantial in Brazil and Argentina where Monsanto is launching new trait packages. In Argentina, Monsanto has received approval for a double-stack trait combination, YieldGard(R) Corn Borer with Roundup Ready(R) Corn 2, and plans to offer the combination on more than 1 million acres in its first year of introduction. In Brazil, Monsanto received planting approval for the YieldGard Corn Borer trait and is planning for a 1 million to 2 million acre launch for the upcoming 2008-2009 season.
Padgette will also discuss the progress and momentum behind a number of projects in Monsanto’s R&D pipeline, highlighting key soybean and corn projects.
“Yield is a priority for farmers,” Padgette said. “When we ask farmers today what they want from us in terms of new soybean products, they universally say that they want us to bring the yield improvements they’ve seen in corn to soybeans.”
Padgette will announce that Monsanto’s high-yielding soybeans, the first biotech product in soybeans focused solely on improving yield, delivered a 6 to 10 percent yield advantage in the company’s recent Latin American trials. The higher-yielding trait, which is part of the yield and stress collaboration with BASF, will be stacked on top of Monsanto’s Roundup Ready 2 Yield(TM) soybean platform. Roundup Ready 2 Yield soybeans, which deliver a 7 to 11 percent yield advantage over the popular first generation Roundup Ready(R) technology, recently received regulatory approval in China for importation, placing them one step closer to the expected controlled commercial release on 1 to 2 million acres in 2009.
BASF Collaboration
Next week, Padgette will be speaking at a joint BASF and Monsanto investor event held in Ghent, Belgium. Monsanto’s collaboration with BASF works to identify and commercialize novel yield and stress trait technologies for farmers.
“We are extremely pleased with the progress in our yield and stress collaboration with BASF,” he said. “Since the start of the collaboration, we have been able to increase the size of our yield and stress transformation pipeline by one-third and have almost 175 field trial locations. Over 90 percent of the genes nominated by BASF have been unique, providing a nice complement to Monsanto’s lead genes.”
Webcast Information
Padgette’s presentation slides and simultaneous audio webcast of the UBS presentation may be accessed by visiting the company’s web site at http://www.monsanto.com/investors. Following tomorrow’s live broadcast set for 6:30 a.m. CT, a replay of the webcast will be available for two weeks through this same link.
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/.
Monsanto Company Cautionary Statements Regarding Forward-Looking Information:
Certain statements contained in this release are “forward-looking statements,” such as statements concerning Monsanto’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 report on Forms 10-Q and 10-K. 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: Danielle Jany, +1-314-694-2478, for Monsanto Company
Web site: http://www.monsanto.com/
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