Monsanto

Extracted Attributes

• Founded

  1901-01-01

• Founder

  John Francis Queeny

• Employees

  25,500 people

• Key Product

  Roundup (glyphosate-based herbicide)

• Headquarters

  Creve Coeur, Missouri, United States

• Acquisition Price

  66 billion USD

Timeline

• Monsanto is founded in St. Louis, Missouri, by John Francis Queeny to manufacture saccharin. (Source: Wikipedia)

  1901-01-01

• Monsanto develops and introduces Roundup, its highly successful glyphosate-based herbicide. (Source: Wikipedia)

  1970-01-01

• Monsanto conducts its first field trials of genetically modified crops. (Source: Wikipedia)

  1987-01-01

• Monsanto merges with global pharmaceutical company Pharmacia & Upjohn. (Source: Wikipedia)

  2000-03-01

• Monsanto's agricultural and biotechnology segments are spun off as a separate publicly traded company. (Source: Wikipedia)

  2002-08-01

• Monsanto acquires Climate Corp, a company founded by David Friedberg, providing a major exit for Google Ventures. (Source: Document dfb3416b-b201-4556-acf5-a96bd6e1029d)

  2013-10-01

• Bayer AG completes its $66 billion acquisition of Monsanto, officially retiring the Monsanto name. (Source: Wikipedia)

  2018-06-07

• Bayer agrees to pay billions in settlements for outstanding lawsuits involving ex-Monsanto products like Roundup. (Source: Wikipedia)

  2020-06-01

Monsanto

The Monsanto Company () was an American agrochemical and agricultural biotechnology corporation founded in 1901 and headquartered in Creve Coeur, Missouri. Monsanto's best-known product is Roundup, a glyphosate-based herbicide, developed in the 1970s. Later, the company became a major producer of genetically engineered crops. In 2018, the company ranked 199th on the Fortune 500 of the largest United States corporations by revenue. Monsanto was one of four groups to introduce genes into plants in 1983, and was among the first to conduct field trials of genetically modified crops in 1987. It was one of the top-ten U.S. chemical companies until it divested most of its chemical businesses between 1997 and 2002, through a process of mergers and spin-offs that focused the company on biotechnology. Monsanto was one of the first companies to apply the biotechnology industry business model to agriculture, using techniques developed by biotech drug companies. In this business model, companies recoup R&D expenses by exploiting biological patents. Monsanto's roles in agricultural changes, biotechnology products, lobbying of government agencies, and roots as a chemical company have resulted in controversies. The company once manufactured controversial products such as the insecticide DDT, PCBs, Agent Orange, and recombinant bovine growth hormone. In September 2016, German chemical company Bayer announced its intent to acquire Monsanto for US$66 billion in an all-cash deal. After gaining U.S. and EU regulatory approval, the sale was completed on June 7, 2018. The name Monsanto was no longer used, but Monsanto's previous product brand names were maintained. In June 2020, Bayer agreed to pay numerous settlements in lawsuits involving ex-Monsanto products Roundup, PCBs and Dicamba. Owing to the massive financial and reputational setbacks caused by ongoing litigation concerning Monsanto's herbicide Roundup, the Bayer-Monsanto merger is considered one of the worst corporate mergers in history.

Web Search Results

• Monsanto Company | Business and Management | Research Starters | EBSCO Research

  # Monsanto Company Monsanto Company, founded in 1901 in St. Louis, Missouri, was a significant player in the agricultural products and chemicals industry, known for its innovations in seed technology and herbicides. Initially starting with food additives like saccharin, the company evolved to focus on developing genetically modified seeds designed to thrive under challenging environmental conditions. Monsanto's most notable products included corn, soybeans, and herbicides such as Roundup, which utilized glyphosate—a chemical that has subsequently faced scrutiny and legal challenges concerning its potential health risks, including links to cancer. [...] Monsanto was one of several companies recruited in 1943 during World War II by the US government to assist in the building of an atomic bomb. This covert research revolved around developing a practical and efficient method to purify uranium, the critical component in this weapon. Monsanto's subsidiary Thomas & Hochwalt Laboratories carried out this highly secretive work. The company's Agricultural Chemicals division was inaugurated in 1960 to continue improving Monsanto's line of herbicides. The introduction of Roundup in 1970 was a watershed moment for Monsanto. Farmers worldwide quickly adopted this herbicide brand, making it a noteworthy commercial success. [...] Monsanto’s products included seeds for corn, cotton, soybeans, canola, and a range of vegetables. It pioneered the development of genetically modified seeds, which became among its most important products—as well as its most controversial. Monsanto aimed to develop hearty seeds even in adverse conditions triggered by water shortages, diseases, and pests. However, critics suggested such modifications could have adverse health and environmental impacts. Also controversially, Monsanto held patents for the seeds it generated using biotechnology and licensed its innovations to other agribusinesses.

• Monsanto - Wikipedia

  Monsanto invented and sells genetically modified seeds that make a crystalline insecticidal protein from _Bacillus thuringiensis_, known as Bt. In 1995 Monsanto's potato plants producing Bt toxin were approved by the Environmental Protection Agency, following approval by the FDA, making it the first pesticide-producing crop to be approved in the United States.( Monsanto subsequently developed Bt maize (MON 802, MON 809, MON 863, MON 810), Bt soybean( and Bt cotton. [...] Monsanto is a member of the Washington D.C.–based Biotechnology Industry Organization (BIO), the world's largest biotechnology trade association, which provides "advocacy, business development, and communications services."( Between 2010 and 2011 BIO spent a total of $16.43 million on lobbying.( The Monsanto Company Citizenship Fund aka Monsanto Citizenship Fund is a political action committee that donated over $10 million to various candidates from 2003 to 2013.( As of October 2013, Monsanto and DuPont Co. continued backing an anti-labeling campaign, spending roughly $18 million. The state of Washington, along with 26 other states, made proposals in November to require GMO labeling.( #### Revolving door [edit] [...] ### "Pre-Pharmacia" Monsanto [edit] #### 1901 to WWII [edit] In 1901, Monsanto was founded in St. Louis, Missouri, as a chemical company.( The founder was John Francis Queeny, who, at age 42, was a 30‑year veteran of the nascent pharmaceutical industry.( He funded the firm with his own money and capital from a soft drink distributor. He named the company after his wife's maiden name, Olga Méndez Monsanto, who was an heir of the Monsanto family.( The company's first products were commodity food additives, such as the artificial sweetenersaccharin, caffeine and vanillin.( 6 (

• Monsanto | Agricultural Company’s History & Lawsuits

  # History of Monsanto John Francis Queeny, founder of Monsanto Photo: Courtesy of Science History Institute Monsanto has a long and storied history, which began in 1901 when it was founded by John F. Queeny to manufacture saccharin, the synthetic sweetener. He named the company his wife’s maiden name, Monsanto (Olga Monsanto Queeny). Within a few years, Monsanto added vanillin and caffeine to its product line and added Coca Cola as a major customer. Its sales reached $1 million in 1915. In 1917, Monsanto began to produce aspirin. [...] It was during the 1970s that Monsanto developed Roundup, its glyphosate-based herbicide, and Monsanto also became a major producer of genetically engineered crops during that time, as well. In 1985, Monsanto purchased G.D. Searle & Company, maker of the artificial sweetener NutraSweet, which it sold in 2000 along with its other artificial sweetener businesses. During the 1990s, Monsanto purchased several biotechnology firms, including Calgene Inc. and Dekalb Genetics Corporation, cementing it as the leader in the development and production of genetically modified crop seeds. Monsanto further diversified, including commercially producing a synthetic hormone for cows to increase milk production (BST), which it sold to Eli Lily in 2008. [...] In 1964, the company again changed its name, to Monsanto Company, perhaps as a nod to its founding an agricultural division as well as the fact that it was diversifying in many other ways. Its agricultural division focused on herbicides, including being one of the companies that produced so-called Agent Orange, the controversial and powerful herbicide used by U.S. military forces during the Vietnam War. Agent Orange was later linked to cancer and other serious health problems. The company also invented and produced many other products during the 60s and 70s, including products with medical applications and a process for making acetic acid, as well as AstroTurf.

• Monsanto | History, Bayer Acquisition, & Roundup Litigation | Britannica Money

  Britannica Money A famous business organization A selection of pharmaceuticals White sign with red "Johnson & Johnson" logo in front of a modern office building and green trees. # Monsanto A famous business organization A selection of pharmaceuticals White sign with red "Johnson & Johnson" logo in front of a modern office building and green trees. Monsanto company sign outside its headquarters Monsanto was an American corporation and a leading producer of chemical, agricultural, and biochemical products. After being acquired by Bayer AG in 2018, it ceased to exist as a separate entity. ## 1901–1945: Founding and early expansion [...] ## 1901–1945: Founding and early expansion The Monsanto Chemical Works was founded in 1901 by John F. Queeny (1859–1933), a purchasing agent for a wholesale drug company, to manufacture the synthetic sweetener saccharin, then produced only in Germany. Queeny invested $1,500 of his own money and borrowed another $3,500 from a local Epsom salts manufacturer to launch his new company, which he named Monsanto after his wife’s maiden name. The company reached full-scale saccharin production in 1902, added caffeine and vanillin to its product line over the next few years, and in 1905 began turning a profit. With the Coca-Cola Company (KO) as one of Monsanto’s chief customers, sales reached $1 million in 1915. Monsanto began producing aspirin in 1917. [...] ## 2000–2016: Biotechnology focus Monsanto merged with global pharmaceutical company Pharmacia & Upjohn in March 2000, but in August 2002 Monsanto’s nonpharmaceutical segments were spun off by Pharmacia Corporation, and Monsanto became a publicly traded company. Its primary businesses were in agriculture and biotechnology. To further those interests, it acquired various seed companies and software makers in the early 21st century. During this time, Monsanto faced increasing public criticism, including opposition to its promotion of genetically modified organisms (GMOs) and controversy over chemicals linked to health concerns. In the 2010s, lawsuits were filed claiming that its Roundup weed killer, which contained glyphosate, caused cancer.

• Bayer closes Monsanto acquisition

  "Today’s closing represents an important milestone toward the vision of creating a leading agricultural company, supporting growers in their efforts to be more productive and sustainable for the benefit of our planet and consumers," said Hugh Grant, outgoing Chairman and CEO of Monsanto. "I am proud of the path we have paved as Monsanto and look forward to the combined company helping move modern agriculture forward." Liam Condon, member of the Bayer Board of Management, will lead the combined Crop Science Division when the integration commences. Until that time, Monsanto will operate independently from Bayer.

• Award

  Roger Award

• Image

  

• Country

  United States

• Founder

  John Francis Queeny

• Employees

  25,500

• Instance Of

  Q161726

• Headquarters

  St. Louis

• Inception Date

  1/1/1901