News Releases | February 21, 2013 | Read Time: 4 minutes
Monsanto Will Appeal Brazilian Superior Court of Justice Ruling on Roundup Ready Soybeans Patent Term Correction
ST. LOUIS & SAO PAULO--(BUSINESS WIRE)--
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
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
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.
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.
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Cautionary Statements Regarding Forward-Looking
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.