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Monsanto milestone: Profits from intellectual property overtake Roundup herbicide income

(Wednesday, Oct. 8, 2003 -- CropChoice news) -- Monsanto is now profiting more from intellectual property -- seeds and traits -- than from sales of Roundup, the trademark under which it sells glyphosate herbicide, company CEO Hugh Grant told a chemical conference last week in New York.

Monsanto's genetically engineered seeds are gaining market share around the world, he told conference attendees. [Brazil lifted its near 5-year ban on transgenic crops last month.]

Monsanto forecasts gross profits of $2.35 billion in 2003, a 7-percent increase.

Source: Chemical Week