The first quarter of fiscal year 2017 has been a good one for Monsanto as the company continues working with Bayer to finalize the acquisition deal by then end of this calendar year.
On Thursday, Monsanto announced net sales for the first quarter totaled $2.7 billion compared to $2.2 billion a year ago and gross profit increased to $1.3 billion. In addition, the company reported its R&D pipeline has delivered more than 20 advancements for fourth consecutive year with a record 14 projects advancing to launch.
“Our research is aimed at improving farmer or grower productivity,” said Monsanto Chief Technology Officer Dr. Robb Fraley during a press conference unveiling of more than 35 projects in Monsanto’s The Climate Corporation pipeline. “Going forward, we believe we have a greater opportunity to accelerate innovation, optimize integrated solutions and expand offerings through our combination with Bayer.”
Listen to the Climate Corporation press conference here: Monsanto/Climate Corporation R&D Pipeline