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 Platform
ST. LOUIS, June 17, 2013 /PRNewswire/ -- Monsanto Company's (NYSE: MON) first technology developed specifically for an international market, Intacta RR2 PROTM 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 PROTM soybeans in Brazil for the upcoming crop season.
Intacta RR2 PROTM 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 100 million 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 PROTM 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® soybeans.
"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 PROTM 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 PROTM 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 PROTM 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.
Media: Kelli Powers (314-694-4003)
Analysts: Bryan Hurley, Investor Relations (314-694-8148)
SOURCE Monsanto Company
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