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 Eli Lilly and Company. In 1996, Monsanto purchased Agracetus, the biotechnology company that had generated the first transgenic cotton, soybeans, peanuts and other crops, and from which Monsanto had been licensing technology since 1991. Monsanto first entered the maize seed business when it purchased 40% of Dekalb in 1996; it purchased the remainder of the corporation in 1998. In 1997, the company first published an annual report citing Monsanto's Law, a biotechnological take on Moore's Law, indicating its future directions and exponential growth in the use of biotechnology. In 1998, Monsanto purchased Cargill's international seed business, which gave it access