Markets :: Fine Chemicals/Biotech :: Seeds and traits
Monsanto reaches compromise with Brazilian soybean farmers in RR1 royalties dispute
3:55 PM MST | January 23, 2013 | Rebecca Coons
Monsanto says it has reached a compromise with Brazilian farmers in a legal dispute that has disrupted royalty collections for the company's first-generation Roundup Ready (RR1) soybeans. Under the terms of the agreement, farmers that agree to waive all potential legal claims for prior RR1 royalty payments will be released from payments for this season and next, Monsanto says. Farmers who opt out of the agreement will continue to pay royalties through 2014, when Monsanto says its intellectual property rights on RR1 in Brazil expire. The offer stems from a lawsuit...
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