http://future.aae.wisc.edu/blog/articles/2008/08/20/lilly-to-purchase-monsanto-cow-hormone-unit-for-300m en-us 40 Updates and information about the the trends in Dairy Markets <p>Eli Lilly &amp; Co. (LLY) agreed to <a href=" http://future.aae.wisc.edu/collection/news_items/lilly_posilac.pdf"> pay $300 million</a> for a Monsanto Co. (MON) business that produces a controversial hormone used to boost milk production in dairy cows. Under the agreement, Lilly will acquire the commercial business for the Posilac brand, including the intellectual property and a Georgia plant. In addition to the $300 million upfront payment, Monsanto will receive &#8220;contingent consideration,&#8221; the companies said. Monsanto had disclosed plans to sell the unit two weeks ago, without providing details. The announcement came after consumer-health groups had raised questions about the health effects of the hormone, which is a natural protein produced in the pituitary glands of cows. At the time, Monsanto said that sales for Posilac were strong and that the sale of the business wasn&#8217;t in response to critics.</p> Wed, 20 Aug 2008 14:02:00 -0500 urn:uuid:16717040-ddd1-4bb6-a535-6c2830fc6b2e Brian Gould http://future.aae.wisc.edu/blog/articles/2008/08/20/lilly-to-purchase-monsanto-cow-hormone-unit-for-300m News