Monsanto’s 2008 lobbying expenditures pave the way for world’s first biotech drought-tolerant corn
April 7, 2009
Total Lobbying Expenditures: $8,831,120
Monsanto CEO Letter to Annual Shareholders
“…In describing our financial results for fiscal 2008, it is very gratifying to repeat a message you have heard for what is now the past five fiscal years: We achieved new records in net sales and net income. …Along the way in 2008, we made several acquisitions that bolster our business across our key crops and complement the organic growth we continue to enjoy. We also garnered meaningful share gains in the United States and Argentina. And we obtained a number of key regulatory approvals for our game-changing technologies that will support our long-term growth. It is against this backdrop that we made the confident yet carefully considered commitment to more than double our 2007 gross profit by 2012 — raised from our previous forecasts…” Hugh Grant, Monsanto President and CEO
In keeping with its commitment to deliver innovations for agriculture, Monsanto Company announced on March 9 that it has completed regulatory submissions in the U.S. and Canada for the world’s first biotech drought-tolerant corn product developed together with Germany-based BASF. The company applied for U.S. Department of Agriculture (USDA) approval of its drought-tolerant corn product following its submission to the Food and Drug Administration (FDA) last December.
Monsanto invests more than $2.6 million per day on leading agricultural research.