21 January 2000
Monsanto reports advance in earnings

MONSANTO has revealed a modest advance in its 1999 earnings as its prepares to merge with the drugs group Pharmacia & Upjohn.

The troubled pioneer of genetically modified (GM) crops said 1999 earnings would be about $1 a share. Monsanto earned 93 in the previous period.

Monsantos shares have been depressed by the negative sentiment surrounding its involvement in GM technology.

It is also facing a multimillion-dollar lawsuit by seedmaker Delta & Pine for abandoning an agreed takeover.