Monsanto the disposition of product lines unrelated to agriculture. In 1985, Monsanto acquired G. D. Searle & Company, a life sciences company that focused on pharmaceuticals, agriculture and animal health. In 1993, its Searle division filed a patent application for Celebrex, which in 1998 became the first selective COX‑2 inhibitor to be approved by the U.S. Food and Drug Administration (FDA). Celebrex became a blockbuster drug and was often mentioned as a key reason for Pfizer's acquisition of Monsanto's pharmaceutical business in 2002. In 1994, Monsanto introduced a recombinant version of bovine somatotropin, brand-named Posilac. Monsanto later sold this business to
Electricity sector in the Philippines any losses incurred during delivery). It is regulated by the ERC who has rate-making powers and the final say in the valuation of transmission assets. Pursuant to the Electric Power Industry Reform Act (EPIRA) and the Transmission Development Plan or TDP, maintenance and operations of the nationwide transmission system was subjected to competitive public bidding conducted by the Power Sector Assets and Liabilities Management (PSALM). The National Grid Corporation of the Philippines (NGCP) was the highest bidder. It assumed control of the national transmission system from the National Transmission Corporation (TransCo), whom assumed the same function from the now defunct