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
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
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
About Monsanto Company
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^®
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Cautionary Statements Regarding Forward-Looking Information:
Certain statements contained in this release are "forward-looking statements,"
such as statements concerning the company's anticipated financial results,
current and future product performance, regulatory approvals, business and
financial plans and other non-historical facts. These statements are based on
current expectations and currently available information. However, since these
statements are based on factors that involve risks and uncertainties, the
company's actual performance and results may differ materially from those
described or implied by such forward-looking statements. Factors that could
cause or contribute to such differences include, among others: continued
competition in seeds, traits and agricultural chemicals; the company's
exposure to various contingencies, including those related to intellectual
property protection, regulatory compliance and the speed with which approvals
are received, and public acceptance of biotechnology products; the success of
the company's research and development activities; the outcomes of major
lawsuits and the previously-announced SEC investigation; the previously
reported material weakness in our internal controls over financial reporting;
developments related to foreign currencies and economies; successful operation
of recent acquisitions; fluctuations in commodity prices; compliance with
regulations affecting our manufacturing; the accuracy of the company's
estimates related to distribution inventory levels; the company's ability to
fund its short-term financing needs and to obtain payment for the products
that it sells; the effect of weather conditions, natural disasters and
accidents on the agriculture business or the company's facilities; and other
risks and factors detailed in the company's most recent Form 10-K Report to
the SEC. Undue reliance should not be placed on these forward-looking
statements, which are current only as of the date of this release. The company
disclaims any current intention or obligation to update any forward-looking
statements or any of the factors that may affect actual results.
Contact | Lee Quarles 314-406-5739
SOURCE Monsanto Company
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