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US Justice Dept. probing Monsanto antitrust issues (Sunday, March 16, 2003 -- CropChoice news) -- Reuters:
ST. LOUIS, Mo. -- Monsanto Co. said on Friday that the U.S. Department of Justice was
investigating possible antitrust violations in the herbicide market, in
which the agrochemical company is a leading player.
"The Department of Justice has initiated an inquiry about possible
anti-competitive conduct in the glyphosate industry," said Monsanto
spokeswoman Lori Fisher.
Fisher said the government was seeking information from a number of
companies that make and distribute glyphosate, the basic ingredient in
Monsanto's top-selling Roundup herbicide.
Monsanto's patent on glyphosate expired three years ago and the company's
sales have been coming under increasing pressure from competitive products
and pricing.
Monsanto stock was down $2.20 or 13 percent to $14.38 on the New York Stock
Exchange Friday afternoon.
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