The agribusiness giant Monsanto Co. said it would sell its milk hormone Posilac (rbST, rbGH) to Eli Lilly & Co. for $300 million upfront, plus “additional contingent consideration.”

The agreement will expand Lilly’s veterinary operations and enable Monsanto to focus on genetically modified crops. That same day, Lilly’s stock fell 39 cents to $47.41 while Monsanto’s rose $5.22, or 4.6 percent to $118.08, as reported by Bloomberg.
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