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MYCOGEN RESTRUCTURES, PUSHES FOR PROFITABILITY

 SAN DIEGO, Aug. 26 /PRNewswire/ -- Mycogen Corp. (NASDAQ: MYCO) said today that it is restructuring its business units and streamlining its research and development organization to focus on new, technology-based products and lay the groundwork for profitability in 1994.
 Mycogen Chairman, President and CEO Jerry Caulder said the four seed divisions the company acquired when it purchased a controlling interest in Agrigenetics Co. last year have been unified in a new, functional structure. A number of overlapping sales territories also have been consolidated.
 In addition, Mycogen is combining its biopesticide research and development programs with Agrigenetics' plant science and breeding programs. By consolidating these programs and leveraging its technology through collaborations such as its recently announced corn R&D agreement with Ciba Seeds, Caulder said the company will be able to accelerate development of new value-added products while at the same time reducing research spending.
 Caulder said the company-wide restructuring and consolidation will eliminate 111 positions, approximately 12 percent of Mycogen's work force, and significantly reduce expenses.
 "Technology is going to transform the agribusiness industry over the next few years, and we're organizing and positioning Mycogen to lead that change with new, value-added products," Caulder said. "Our number one priority is to make the company profitable, so we have also taken a hard look at everything we're doing to be sure that our new structure is both cost-effective and strategically correct."
 The company plans a limited introduction of two technologically enhanced corn hybrids for the 1994 growing season. One has built-in resistance to first brood European corn borers; the other is a high- nutrition feed corn that produces increased levels of oil and protein. Several additional genetically enhanced crop plant hybrids and varieties are targeted for introduction in 1995 and succeeding years.
 Mycogen's programs to position its biopesticides in new and larger markets also continue to progress. M-Peril(TM) Bioinsecticide was registered by the Environmental Protection Agency and introduced commercially this year to control corn borers. MVP(R) Bioinsecticide performed well in test markets against cotton boll worms in the Mississippi Delta.
 "All of these products have environmental and safety advantages and give farmers larger and higher quality yields, so we think they will help us build our market share and increase revenues," Caulder said. "We're also looking to increase our marketing and distribution network and broaden our business base through acquisitions."
 Mycogen is a diversified agricultural biotechnology company that develops and manufactures environmentally compatible biopesticides and improved crop varieties to control pests and increase food and fiber production.
 -0- 8/26/93
 /CONTACT: Mike Sund, director-Corporate Communications of Mycogen,


619-453-8030/
 (MYCO) CO: Mycogen Corp. ST: California IN: MTC AGR CHM SU: RCN


LS-BP -- SD002 -- 6004 08/26/93 08:31 EDT
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Publication:PR Newswire
Date:Aug 26, 1993
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