Home / News / Business news / Elanco acquires dairy supplement from Monsanto

Elanco acquires dairy supplement from Monsanto

Agriculture.com Staff 08/20/2008 @ 10:00am

Elanco, a division of Eli Lilly and Company, today announced that Lilly has signed an agreement to acquire the worldwide rights to the dairy cow supplement, Posilac (sometribove), as well as the product's supporting operations, from Monsanto Company.

Elanco has exclusively sold sometribove outside of the United States for a decade. Posilac has been safely used for more than 14 years.

Under the terms of the agreement, Lilly will acquire all rights to the Posilac brand, as well as the product's U.S. sales force and its manufacturing facility in Augusta, Georgia.

In return, Monsanto will receive a $300 million upfront payment, as well as contingent consideration. The Posilac dairy business manufacturing and sales teams will be integrated into the Elanco business.

Elanco, a division of Eli Lilly and Company, today announced that Lilly has signed an agreement to acquire the worldwide rights to the dairy cow supplement, Posilac (sometribove), as well as the product's supporting operations, from Monsanto Company.

CancelPost Comment
MORE FROM AGRICULTURE.COM STAFF more +

Farm and ranch risk management resources By: 07/07/2010 @ 9:10am Government resources USDA Risk Management Agency Download free insurance program and…

Major types of crop insurance policies By: 07/07/2010 @ 9:10am Crop insurance for major field crops comes in two types: yield-based coverage that pays an…

Marketing 101 - Are options the right tool… By: 07/07/2010 @ 9:10am "If you are looking for a low risk way to protect yourself against prices moving either higher or…

MEDIA CENTERmore +
This container should display a .swf file. If not, you may need to upgrade your Flash player.
Cool Tools Christmas Edition: Craftsman Two-in-One