Friday, March 29, 2024

Danisco to pay Novozymes 15.3 mln usd following Spezyme ethyl patent case

COPENHAGEN (Thomson Financial) – Danisco AS said it will pay competitor Novozymes AS a total of 15.3 mln usd, which includes patent infringement damages of 8.2 mln usd, following the settlement of a patent dispute over the enzyme Spezyme ethyl, which is used in the production of bioethanol.

The payment will not impact Danisco’s 2006/07 earnings expectations since a provision for the amount was previously made, Danisco said.

Novozymes AS said the total settlement amount, which is due for payment immediately, will have a positive net impact on its 2007 operating profit of 75-80 mln dkr.

The parties have concluded an agreement on reciprocal waiving of the right to appeal the court’s decision of first instance on the issue, it added.

Danisco announced on February 19 that a federal court in Delaware found it had infringed Novozymes’ patent for the enzyme.

The case began in March 2005, when Novozymes brought patent infringement litigation against Genencor International Inc, which was subsequently acquired by Danisco.

gustav.sandstrom@thomson.com

gs/jag

COPYRIGHT

Copyright AFX News Limited 2007. All rights reserved.

The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.

Sam Allcock
Sam Allcockhttps://www.abcmoney.co.uk
Sam heads up Cheshire-based PR Fire, an online platform that has already helped over 10,000 businesses to grab widespread media coverage on their news at an extremely accessible price point.

Recent Articles

Related Stories

sakarya escort bayan Eskişehir escort bayan