Monsanto Executive: Experience Paves the Way for Continued Innovation in Biotechnology

10-Dec-2004

In a presentation to investors, Monsanto Company's Chief Technology Officer Robert T. Fraley, Ph.D., discussed how the company's significant experience with product development, the regulatory environment, and commercial strategy in biotechnology has given Monsanto a leadership position in guiding next-generation products to commercial reality.

"There's an experience curve to agricultural innovation, whether it's breeding or biotechnology," said Fraley. "From the initial laboratory breakthrough to getting the right seed varieties in the right bags for farmers, there is a complex, interwoven process.

"With the success of the first round of biotechnology traits, we've established that we can succeed with that whole process - something we believe is a terrific advantage in making decisions about how we invest in the next generation of products."

Monsanto's significant experience creates a unique technology acumen that is helping the company move more products through its research-and-development pipeline, said Fraley. With its experience base, Monsanto is already working on second-generation products, like Roundup Ready Flex cotton; consumer-benefit-oriented products, like VISTIVE low-linolenic soybeans and omega-3 fortified oilseeds; and drought-tolerant corn, soybeans and cotton.

"This year we saw a significant amount of projects move from the lab to the field," said Fraley. "Things that might have been ideas just a couple of years ago are being field tested this year, which we believe demonstrates that our first-generation experience gives us valuable second-generation know-how."

Fraley will deliver a report on 2004 field trial results and progress across its product pipeline as a part of Monsanto's first-quarter fiscal year 2005 earnings report on Wednesday, Jan. 5, 2005.

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