Exhibit 99.2


                                                           FOR IMMEDIATE RELEASE
                                                           ---------------------


                     Pharmacia Sets Stock Distribution Ratio
                   for Spin-Off of Shares in Monsanto Company


Peapack, N.J. (July 30, 2002) - Pharmacia Corporation (NYSE: PHA) today
announced that it has finalized the ratio for the distribution of all remaining
shares held by the Company in its agricultural subsidiary, Monsanto Company
(NYSE: MON). The Monsanto shares will be distributed as a special stock dividend
at the close of business on August 13, 2002. The distribution will complete
Pharmacia's spin-off of Monsanto.


         Pharmacia shareholders will be entitled to receive .170593 shares of
Monsanto common stock for each share of Pharmacia common stock for which they
are the holder of record at the close of business on July 29, 2002. At the close
of business on July 29, 2002, Pharmacia had 1,289,621,815 shares of common stock
outstanding.


         As previously announced, the dividend generally will be tax-free to
Pharmacia shareholders for U.S. federal income tax purposes except to the extent
that cash is received instead of fractional shares. Additional information
concerning the special stock dividend can be obtained on the Pharmacia website
at http://www.pharmacia.com.


         Pharmacia Corporation (NYSE: PHA) is a top-tier global pharmaceutical
company with a leading agricultural subsidiary. Pharmacia's innovative medicines
and other products save lives and enhance health and wellness. Pharmacia's
59,000 people work together with many diverse stakeholders to bring these
benefits to people around the world, and to create new health solutions for the
future. On July 15, 2002, Pharmacia and Pfizer Inc. (NYSE: PFE) announced the
signing of a definitive agreement providing for Pfizer to acquire Pharmacia in a
stock-for-stock transaction that is expected to close by the end of 2002.






         This press release contains forward-looking or anticipatory statements
about the Company's business and financial performance plans which are based on
the information currently available and the expectations currently deemed
reasonable by the Company. However, because these forward-looking statements are
subject to many risks, uncertainties and changes over time, including those
referenced in the Company's filings with the U.S. Securities and Exchange
Commission, actual results may differ materially from those expressed or implied
by these forward-looking statements. The Company undertakes no obligation to
update any forward-looking statements as a result of new information or future
developments.


Media Contact:                                             Analyst Contact:
-------------                                              ---------------
Paul Fitzhenry                                             Linda C. Heller
Tel. (908) 901-8770                                        Tel. (908) 901-8853

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