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Jury Awards $1 Billion to Monsanto in Suit Against DuPont

A federal jury Wednesday awarded $1 billion to Monsanto Co. (MON) in a patent-infringement lawsuit against rival DuPont Co. (DD) over Monsanto's Roundup Ready seed technology. The jury reached the verdict at a St. Louis federal courthouse on the same day that it started deliberations. The trial began July 9. The jury found DuPont willfully infringed Monsanto's patent for Roundup Ready seeds and awarded $1 billion in damages to Monsanto, according to a statement from Monsanto on Wednesday evening. Roundup Ready seeds grow into plants able to survive exposure to glyphosate, the active ingredient in the Roundup weedkiller made by Monsanto. St. Louis-based Monsanto filed suit in 2009 over DuPont's Optimum GAT soybean seed, which included a DuPont transgenic trait that enabled the crop to withstand applications of glyphosate. DuPont and its seed subsidiary, Pioneer Hi-Bred, initially marketed the seed as an alternative to Monsanto's Roundup Ready, but ultimately paired the Monsanto trait with its own trait in the Optimum GAT product. Monsanto, the world's largest seed company, claimed that by stacking the gene onto its own product, DuPont violated the terms of a 2002 licensing agreement. DuPont countersued, alleging anticompetitive practices. DuPont has since shelved the Optimum GAT product. During the trial, DuPont, based in Wilmington, Del., argued that Monsanto misled U.S. government officials to obtain the patent. "This verdict highlights that all companies that make early and substantial investments in developing cutting-edge technology will have their intellectual property rights upheld and fairly valued," said David Snively, Monsanto's Executive Vice President and General Counsel, in a prepared statement. Monsanto's Roundup Ready technology is used broadly by farmers, as the company has licensed it to other companies. The glyphosate-resistant trait is used in alfalfa, corn, cotton, canola and sugar beets. Write to David Kesmodel at david.kesmodel@wsj.com. Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Stock News for Du Pont E I De Nem (DD)
DateTimeHeadline
12/02/201616:36:32Statement of Changes in Beneficial Ownership (4)
12/02/201616:35:41Statement of Changes in Beneficial Ownership (4)
11/17/201609:21:38Current Report Filing (8-k)
11/05/201603:03:00Dow-DuPont Deal Slowed Again -- WSJ
11/04/201608:50:00EU Suspends Dow-DuPont Merger Review Yet Again
11/04/201608:40:00EU Suspends Dow-DuPont Merger Review Yet Again
10/28/201613:20:00EU Opens In-Depth Probe Into ChemChina's Bid for Syngenta
10/28/201603:03:00Dow Chemical Revenue Rises -- WSJ
10/27/201608:20:00Dow Chemical Revenue Climbs
10/27/201608:04:00Dow Chemical Revenue Climbs
10/26/201606:30:00Megamergers Face Delays From Heightened EU Scrutiny
10/26/201606:18:00Bayer CEO Defends Planned Acquisition of Monsanto -- 2nd Update
10/25/201613:43:39Quarterly Report (10-q)
10/25/201612:06:00DuPont, Dow Chemical Merger to Close in First Quarter 2017
10/25/201607:34:00DuPont Boosts Profit Forecast Amid Rise in Revenue -- Update
10/25/201607:30:00DuPont Revenue Rises, Boosts Profit Forecast
10/25/201607:06:00DuPont Boosts Profit Forecast Amid Rise in Revenue
10/25/201606:47:51Current Report Filing (8-k)
10/25/201606:00:00DuPont Reports Third-Quarter 2016 Results
10/25/201603:03:00Syngenta Deal Faces Possible Delay -- WSJ

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