Monsanto company, the "new Monsanto", focused on four key agricultural crops—soybeans, maize, wheat and cotton. Monsanto agreed to indemnify Pharmacia against potential liabilities from judgments against Solutia. As a result, the new Monsanto continued to be a party to numerous lawsuits over the prior Monsanto. Pharmacia was bought by Pfizer in 2003.) In 2005 Monsanto acquired Emergent Genetics and its Stoneville and NexGen cotton brands. Emergent was the third largest U.S. cotton seed company, with about 12% of the U.S. market. Monsanto's goal was to obtain "a strategic cotton germplasm and traits platform." Also in 2005, Monsanto purchased Seminis, the California-based
Monsanto world leader in vegetable seed production, for $1.4 billion. Seminis developed new vegetable varieties using advanced cross-pollination methods. Monsanto indicated that Seminis would continue with non-GM development, while not ruling out GM in the longer term. In June 2007, Monsanto purchased Delta and Pine Land Company, a major cotton seed breeder, for $1.5 billion. As a condition for approval from the Department of Justice, Monsanto was obligated to divest its Stoneville cotton business, which it sold to Bayer, and to divest its NexGen cotton business, which it sold to Americot. Monsanto also exited the pig-breeding business by selling Monsanto Choice