Reprinted with permission from For the Defense, a publication of DRI: Voice of the Defense Bar, December 2009

Partners Mike Bryan and Tom Brumgardt with assistance from associate Sally Caver represented Monsanto Co. in its purchase of Chesterfield Village Research Center located in Chesterfield, Mo., from Pfizer Inc. Under the terms of the agreement, Monsanto will acquire the property from Pfizer for $435 million to be paid over time, and Pfizer will continue to have operations at Chesterfield Village through a lease agreement, primarily performing Biotherapeutic Pharmaceutical research. The research center comprises 1.5 million square feet and includes approximately 250 laboratories, 122 plant growth chambers, and 2 acres of greenhouse. Monsanto has leased more than 400,000 square feet of the property from Pfizer, and more than 400 Monsanto employees and contractors work on site, most of whom are researchers.

The Chesterfield Village Research Center has a unique history between Monsanto and Pfizer. The site was originally built by the former Monsanto Company for approximately $150 million and opened in 1984. At that time, the former Monsanto was a life sciences research company, with research interests in both agriculture and pharmaceuticals. In 2000, the former Monsanto merged with Pharmacia & Upjohn Inc. and changed its name to Pharmacia Corporation. The current Monsanto Company was incorporated in 2000 and spun off from Pharmacia in 2002, becoming a completely independent company focused solely on agriculture. The new Monsanto leased space at the Chesterfield site from Pharmacia, and the lease continued after Pfizer acquired Pharmacia in 2003.

The companies expect to complete the transaction in the first half of 2010.

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