Eli Lilly and Company will buy Monsanto’s Posilac division for US$300 million, the companies announced Aug. 20.
Monsanto put its bovine somatotropin business up for sale a few weeks ago, saying it wanted to focus more on its core strengths selling high-tech seeds and weed control to farmers.
Elanco, headquartered in Greenfield Indiana, is the seventh largest animal health company in the world based on sales. It has been marketing the genetically engineered milk production enhancer outside of the U.S. for the past decade under a licensing agreement with Monsanto.
BsT has been widely used in the U.S. and in other countries, but was never approved for use in Canada.