St. Louis, MO and Sao Paulo (May 16, 2013) -- Monsanto Company (NYSE: MON) noted that the company will continue to pursue its appeal of today’s ruling by the Brazilian Superior Court of Justice. The company will seek a further appeal at the Brazilian Superior Court of Justice. Monsanto also noted that it has previously filed an appropriate appeal through which the patent term correction matter would ultimately be heard and decided by the Supreme Court of Brazil.
The company said that today’s ruling does not change the current status of Roundup Ready soybeans in Brazil. Monsanto has previously noted that it will defer the collection of royalties for first-generation Roundup Ready soybeans in the country until a final decision has been reached by the courts. The company intends to continue documenting and maintaining the customary commercial information from those that use first-generation Roundup Ready soybeans during this deferral period.
Today’s ruling relates to Monsanto’s request for term correction of a patent covering its Roundup Ready® soybean product in Brazil. The ruling represents a further step in the ongoing legal process within the country. The company is expected to now move forward with the next phase of the appeals process within the Brazilian Superior Court of Justice in order to secure its intellectual property rights and ensure its business is not disrupted in the country. After the Superior Court of Justice issues a final ruling on this matter, the case will be definitively decided by the Supreme Court of Brazil.
In Brazil, first-generation Roundup Ready soybeans are protected by various proprietary rights, including patents. In accordance with Brazilian law, Monsanto has sought to correct the term of one of its Brazilian patents to 2014. That matter is still pending.
Farmers that would prefer to seek an immediate resolution continue to have the choice to enroll in a simplified form of the previously announced discharge agreement. This document is available online at: www.monsanto.com.br.
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Monsanto Company is a leading global provider of technology-based solutions and agricultural products that improve farm productivity and food quality. Monsanto remains focused on enabling both small-holder and large-scale farmers to produce more from their land while conserving more of our world's natural resources such as water and energy. To learn more about our business and our commitments, please visit: www.monsanto.com. Follow our business on Twitter® at www.twitter.com/MonsantoCo, on the company blog, Beyond the Rows at www.monsantoblog.com, or subscribe to our News Release RSS Feed.
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Original Release:Monsanto Will Appeal Brazilian Superior Court of Justice Ruling on Roundup Ready Soybeans Patent Term Correction