What is it:
It is a hormone that regulates secretion of other hormones, regulates the activity of the gastrointestinal tract, and regulates the production of tumor cells.
Where is it produced in the body:
Somatostatin is produced in the pancreas, gastrointestinal tract, and in the hypothalamus. In the pancreas it controls the production of glucagon and insulin. In the gastrointestinal tract it controls production of gastrin and secretin. In the hypothalamus it controls the secretion of growth hormone from the pituitary gland.
Although rare, there could be too much secretion of growth hormone.
There would be an extreme reduction in secretion of other endocrine hormones. This could lead to ailments like diabetes or gallstones.
This photo of Somatostatin above was taken from Wikipedia.