
Monsanto settles patent suit for $100 million US CBC \|\| March 01, 2006 Related - GM: New Study Shows Unborn Babies Could Be Harmed Biotechnology giant Monsanto Co. has agreed to pay the University of California more than $100 million US to settle a patent infringement suit. The settlement came the day Monsanto was scheduled to appear in a California suit Monday morning to face charges that it stole a University of California patent on BST, the acronym for a widely used growth hormone that stimulates milk production in dairy cows. The university's board of regents sued Monsanto in 2004 for infringing its patents on the hormone, bovine somatotropin. St. Louis-based Monsanto said Monday it would pay the university $100 million US to cover past royalties and at least $5 million annually in the future to license the patented technology. The university's patent expires in 2023. At issue is the genetically engineered BST, which is sold under the brand name Posilac. Monsanto says injections of the hormone helps dairy cows produce 10 to 15 per cent more milk. Article Posted at www.KnowledgeDrivenRevolution.com Monsanto spokesman Andrew Burchett said he didn't know who initially invented the hormone. He claimed Monsanto was the first company to produce BST commercially and the first to patent the production process. He said that patent predated the university's broader patent, which was granted in 2004. University of California spokesman Trey Davis said three scientists at UC-San Francisco first isolated the DNA that is used to make the hormone. The researchers are Walter Miller, Joseph Martial and John Baxter. Monsanto said under its agreement it will be given the exclusive commercial licence to use the university's patented hormone. The university will have the right to use the hormone in non-commercial research, and the U.S. government will retain some rights because federal funding was used to develop the technology. Monsanto said the agreement will not hurt the company's performance this year, affirming its estimated profit of between $2.35 US to $2.50 US a share. The company's stock (NYSE:MON) gained 55 cents, to $85.19 US on the New York Stock Exchange Monday. The genetically engineered hormone has stirred debate since being approved for commercial use by the U.S. Food and Drug Administration in 1993. Consumer groups worry the hormone could affect human health, and many milk brands carry labels advertising that they are Posilac-free. About KDR \| \| Home \| \| Weekly Features Archive	Weekly Weekly Features Archive
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Monsanto settles patent suit for $100 million US

CBC || March 01, 2006

Related - GM: New Study Shows Unborn Babies Could Be Harmed

Biotechnology giant Monsanto Co. has agreed to pay the University of California more than $100 million US to settle a patent infringement suit.

The settlement came the day Monsanto was scheduled to appear in a California suit Monday morning to face charges that it stole a University of California patent on BST, the acronym for a widely used growth hormone that stimulates milk production in dairy cows.

The university's board of regents sued Monsanto in 2004 for infringing its patents on the hormone, bovine somatotropin.

St. Louis-based Monsanto said Monday it would pay the university $100 million US to cover past royalties and at least $5 million annually in the future to license the patented technology.

The university's patent expires in 2023.

At issue is the genetically engineered BST, which is sold under the brand name Posilac. Monsanto says injections of the hormone helps dairy cows produce 10 to 15 per cent more milk.

Article Posted at www.KnowledgeDrivenRevolution.com

Monsanto spokesman Andrew Burchett said he didn't know who initially invented the hormone. He claimed Monsanto was the first company to produce BST commercially and the first to patent the production process. He said that patent predated the university's broader patent, which was granted in 2004.

University of California spokesman Trey Davis said three scientists at UC-San Francisco first isolated the DNA that is used to make the hormone. The researchers are Walter Miller, Joseph Martial and John Baxter.

Monsanto said under its agreement it will be given the exclusive commercial licence to use the university's patented hormone. The university will have the right to use the hormone in non-commercial research, and the U.S. government will retain some rights because federal funding was used to develop the technology.

Monsanto said the agreement will not hurt the company's performance this year, affirming its estimated profit of between $2.35 US to $2.50 US a share.

The company's stock (NYSE:MON) gained 55 cents, to $85.19 US on the New York Stock Exchange Monday.

The genetically engineered hormone has stirred debate since being approved for commercial use by the U.S. Food and Drug Administration in 1993. Consumer groups worry the hormone could affect human health, and many milk brands carry labels advertising that they are Posilac-free.

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