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DOW AGROSCIENCES AWARDED $5.3 MILLION IN BAYER CASE
Oct. 2, 2012
Source: Dow AgroSciences news release
In a ruling on September 28, 2012 in the U.S. District Court, Middle District of North Carolina, two affiliates of Dow AgroSciences (NYSE: DOW) received a $5.3 million award against Bayer Bioscience in a lawsuit over Bayer's Bacillus thuringiensis biotechnology patents that were ultimately found in multiple legal proceedings to be unenforceable due to inequitable conduct.
Originally filed in 1995 by Plant Genetic Systems (PGS) - a subsidiary of Bayer Bioscience - the lawsuit claimed that insect resistant corn products from Mycogen Plant Sciences and Agrigenetics - now affiliates of Dow AgroSciences - had violated two PGS patents.
Friday's $5.3 million award reimburses attorneys' fees and costs incurred by the Dow AgroSciences affiliates in defending against Bayer's litigation.
"We are pleased with the ruling, which supports Dow AgroSciences and its Affiliates providing important insect protection products to U.S. farmers," said William Wales, Vice President and General Counsel for Dow AgroSciences.
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