Monsanto Company Receives Final Key Regulatory Approval For Intacta RR2 PRO™
Soybeans, Setting Up Commercial Launch In Brazil
With China Approval and Commercial Launch, Intacta RR2 PRO™ Soybeans Expected
to Become Core Growth Driver Within Monsanto's Next-Generation Soybean
ST. LOUIS, June 17, 2013
ST. LOUIS, June 17, 2013 /PRNewswire/ --Monsanto Company's (NYSE: MON) first
technology developed specifically for an international market, Intacta RR2
PRO^TM soybeans, has received official approval from China's Ministry of
Agriculture. With this approval, Monsanto will now begin commercial
preparation for the full-scale launch of Intacta RR2 PRO^TM soybeans in Brazil
for the upcoming crop season.
Intacta RR2 PRO^TM soybeans are expected to become one of the cornerstone
products in Monsanto's next-generation soybean platform. The technology
represents one of the most significant growth drivers in its global portfolio,
and it is estimated that it could deliver benefits to farmers in more than
100million acres across South America.
"This approval represents a significant milestone for Brazilian farmers and
our company, and showcases the next wave of innovation that is poised to drive
the decade of the soybean at Monsanto," said Brett Begemann, Monsanto's
president and chief commercial officer. "Importantly, the introduction of
Intacta RR2 PRO^TM brings a new choice in insect control and convenience to
Brazilian farmers, and creates the opportunity to expand our soybean platform
as we accelerate innovation in this core crop."
Along with Monsanto, multiple South American seed companies are anticipated to
launch Intacta RR2 PRO this coming season.
Final Ground Breakers® Results Set Tone for Commercial Opportunity
In conjunction with the transition to commercial preparation for the upcoming
season, Monsanto also unveiled the final results for its latest year of Ground
Breakers® on-farm trials in Brazil. This year, the company doubled its Ground
Breakers® program in Brazil to include 1,000 growers, and final results from
this year's harvest demonstrate another year of significant yield advantage of
greater than four bushels per acre against first-generation Roundup Ready®
"The experience and insight we've gained from working with farmers through two
years of Ground Breakers® on-farm trials has us well-positioned for a
successful product launch," Begemann said. "Intacta RR2 PRO^TM represents
meaningful new value for the farmer and significant business growth
opportunity for Monsanto."
The company noted that the commercial launch in Brazil becomes the catalyst
for successive launches of Intacta RR2 PRO^TM soybeans throughout South
America, ultimately accessing a 100-million-acre total opportunity. Monsanto
expects Ground Breakers® trials for Intacta RR2 PRO™ in Argentina in fiscal
year 2014, with a commercial launch expected in fiscal 2015. Monsanto is
currently developing the second- and third-generation of Intacta RR2 PRO^TM to
provide additional benefits to growers in the region.
Intacta RR2 PRO™ soybeans offer three distinct benefits for growers: increased
yield potential; protection against major pests that attack soybeans –
velvetbean caterpillar, soybean looper, bean shoot borer, bollworm, corn stalk
borer and Helicoverpa; and tolerance to glyphosate herbicide.
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 . Follow our business on
Twitter^® at www.twitter.com/MonsantoCo, on the company blog, Beyond the Rows®
at www.monsantoblog.com, or subscribe to our News Release RSS Feed.
Certain statements contained in this presentation 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 and the previously announced SEC investigation; 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 presentation. 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: Kelli Powers (314-694-4003)
Analysts: Bryan Hurley, Investor Relations (314-694-8148)
SOURCE Monsanto Company
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