Nutrition

News 178 views last update:6 Aug 2012

Danisco to pay damages to Novozymes

Novozymes A/S announced that a federal court in Delaware ordered Danisco to pay damages of US$4.088,584 plus prejudgment interest for contravention of Novozymes' US Patent No. 6,867,031 covering Spezyme Ethyl, an enzyme used to manufacture bioethanol.

The federal court also found that Danisco deliberately denied Novozymes' patent. The court doubled the damages and also awarded Novozymes attorneys' fees and costs. The court also issued a permanent injunction against Danisco preventing future violations of Novozymes' patent. The damage payment of DKK 45-50 million (US$ 8-8.8 million) will have a positive effect on Novozymes' EBIT and net result for 2007, provided the decision of the court is not pulled back.

In addition, the awarded prejudgment interest, attorney's fees and costs, which have not been settled by the court, are also expected to affect results positively. Both Novozymes and Danisco have 30 days to appeal against the ruling.

Related links:
Danisco
Novozymes

To subscribe to the free AllAboutFeed newsletter click here.

Editor AllAboutFeed

Or register to be able to comment.