Monsanto to Purchase Chesterfield Village Research Center From Pfizer
Monsanto Company and Pfizer Inc today announced that they have entered into an agreement for Monsanto to acquire Pfizer’s Chesterfield Village Research Center located in Chesterfield, Mo. Under the terms of the agreement, Monsanto will acquire the property from Pfizer for $435 million to be paid over time, and Pfizer will continue to have operations at Chesterfield Village through a lease agreement, primarily performing Biotherapeutic Pharmaceutical research.
“This Chesterfield Village Research Center is truly a world-class facility and our agreement with Pfizer will enable both of our companies to maintain our deep research roots in St. Louis for years to come,” said Robb Fraley, Ph.D., Monsanto’s chief technology officer. “The research we do at this facility is the foundation of our business, paving the way for next-generation products that create real benefits on the farm and in our world. This is yet another investment in our ever-growing pipeline, which enables us to deliver new and improved technologies.”
“Pfizer will continue to perform important Biotherapeutic Research at the Chesterfield Village Research Center,” said Don Frail, Vice President, Pfizer St. Louis Site Director. “We will continue to partner with Monsanto to ensure high-caliber research is ongoing in St. Louis, and that researchers from both companies will continue to share the Chesterfield Village Research Center.”
The research center comprises 1.5 million-square-feet and includes approximately 250 laboratories, 122 plant growth chambers and 2 acres of greenhouse. Monsanto has leased more than 400,000 square feet of the property from Pfizer, and more than 400 Monsanto employees and contractors work on site, most of whom are researchers.
Monsanto expects the site to continue to support its robust pipeline, which is focused on increasing agricultural productivity such as drought-tolerant corn and higher-yielding soybeans, and will enable the company to reach its goal of doubling yields in its core crops by 2030.
The Chesterfield Village Research Center has a unique history between Monsanto and Pfizer. The site was originally built by the former Monsanto Company for approximately $150 million and opened in 1984. At that time, the former Monsanto was a life sciences research company, with research interests in both agriculture and pharmaceuticals. In 2000, the former Monsanto merged with Pharmacia & Upjohn Inc. and changed its name to Pharmacia Corporation. The current Monsanto Company was incorporated in 2000 and spun off from Pharmacia in 2002, becoming a completely independent company focused solely on agriculture. The new Monsanto leased space at the Chesterfield site from Pharmacia, and the lease continued after Pfizer acquired Pharmacia in 2003.
The companies expect to complete the transaction in the first half of 2010.
©2009 Monsanto Company.
Great, nothing like a pharmaceutical company being in bed with the food we eat. Give the crops and seeds back to the farmer. Nobody wants your Roundup tainted soy products!! You have no right monopolizing on a natural crop!! How much did you pay Clarence Thomas to pass that bill into law to give you the right to steal money from the real workers of the world? Monsanto needs to be exposed for the fraud and corrupt company they really are. This isn't a company looking out for anyone but themselves, you don't fool anyone. The word is spreading fast about your tainted products and corrupt practices. Of course this will be deleted, but still as important because someone is reading it!!! There is a movement against your foul practices of over a million strong and growing!! Good luck in the future!! You'll need it!!
Editor's Note: The terms of the agreement only includes the purchase of property from Pfizer Inc by Monsanto Company. Clarence Thomas worked for Monsanto for a few years but has not been employed by Monsanto since the 1970s. The case in question was Pioneer Hi-Bred International v. J.E.M Ag Supply and involved a Monsanto competitor. Monsanto was not a party to that case. The Supreme Court’s 6-2 decision in Pioneer v. J.E.M. upheld the ruling of the appeals and lower court decisions that plants are indeed subject to patent protection under U.S. patent law.
Monsanto might simply be purchasing the land from Pfizer, and Pfizer leasing the land back..
Monsanto can deny that they aren't "IN BED" with Pfizer, and Pfizer can claim the same thing, but it sure looks suspect, AT BEST..