Monsanto Will Appeal Brazilian Superior Court of Justice Ruling on Roundup Ready Soybeans Patent Term Correction The Supreme Court of Brazil ultimately to hear and decide the patent term correction case pending the outcome of the appeals process in the lower court
ST. LOUIS and SAO PAULO, Feb. 21, 2013 /PRNewswire/ -- Monsanto Company (NYSE: MON) said it plans to file an immediate appeal of a recent ruling by a single judge of the Brazilian Superior Court of Justice, relating to the company's request for term correction of a patent covering its Roundup Ready® soybean product. The company will move forward with the next phase of the appeals process to secure its intellectual property rights and ensure its business is not disrupted in the country.
Monsanto has previously obtained patent protection in Brazil for its first-generation Roundup Ready soybean products. In accordance with Brazilian law, Monsanto has sought to correct the term of its patent rights in Brazil to conform to the 2014 patent term granted in the United States.
This ruling represents one intermediate step in the ongoing legal process within the country. Monsanto will seek review of that decision by a full panel of judges of the Superior Court of Justice. Additionally, Monsanto has previously filed an appropriate appeal which has been admitted to be heard by the Supreme Court of Brazil. The Supreme Court ultimately will hear and decide the patent term correction.
"We plan to file an immediate appeal with the Superior Court of Justice and look forward ultimately to presenting our case to the Supreme Court of Brazil at a later date," said Todd Rands, Monsanto's Legal Director for Latin America.
Monsanto, similar to other companies, holds intellectual property rights on its inventions. This approach has played an important role in fostering new investments in Brazilian agriculture production.
The company also said it remains committed to ongoing dialogue with farmers and their representative groups in order to pave the way for innovation in agriculture, as this is one of the critical paths towards delivering value to Brazil's farmers and its economy and meeting the demands of our growing planet.
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Contact | Lee Quarles 314-406-5739
SOURCE Monsanto Company