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Monsanto profit up fourfold

10 February 2000
Monsanto profit up fourfold

By FWi staff

LIFE-SCIENCE giant Monsanto has announced that its last-quarter profits have more than quadrupled compared to the same period the previous year.

The company, which recently agreed to merge with drug company Pharmacia & Upjohn, said last-quarter profits from operations stand at US$115 million, compared to $27m a year ago.

reports that growth this quarter was led by its arthritis painkiller Celebrex which last year had sales of $1.5bn.

Top-selling pesticide Roundup also accounts for a large share of Monsanto sales, although the fourth quarter is historically a slow time for the US agriculture market.

Most US farmers buy their seeds and chemicals in the first and second quarters.

The companys shares have dropped 6% over the last year, but risen 6% in the past six months.

Monsantos work producing genetically modified crops has made it a high-profile target for environmental campaigners in recent years.

Up to 20% of Monsantos agricultural unit will be sold once the company merges with Pharmacia & Upjohn

This is widely seen as a move by the new company to distance itself from the controversy surrounding GM technology.

    Read more on:
  • News

Monsanto profit up fourfold

10 February 2000
Monsanto profit up fourfold

By FWi staff

LIFE-SCIENCE giant Monsanto has announced that its last-quarter profits have more than quadrupled compared to the same period the previous year.

The company, which recently agreed to merge with drug company Pharmacia & Upjohn, said last-quarter profits from operations stand at US$115 million, compared to $27m a year ago.

reports that growth this quarter was led by its arthritis painkiller Celebrex which last year had sales of $1.5bn.

Top-selling pesticide Roundup also accounts for a large share of Monsanto sales, although the fourth quarter is historically a slow time for the US agriculture market.

Most US farmers buy their seeds and chemicals in the first and second quarters.

The companys shares have dropped 6% over the last year, but risen 6% in the past six months.

Monsantos work producing genetically modified crops has made it a high-profile target for environmental campaigners in recent years.

Up to 20% of Monsantos agricultural unit will be sold once the company merges with Pharmacia Upjohn

This is widely seen as a move by the new company to distance itself from the controversy surrounding GM technology.

    Read more on:
  • News
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