Monsanto Loses $65 Million Lawsuit to Rhone-Poulenc
Monsanto Investing News web page.
Monsanto Loses Lawsuit to Rhone Poulenc
(Excerpts from St. Louis Post-Dispatch; 04/23/99)
**Monsanto** Co. said Thursday it will appeal a federal jury verdict that
gives $65 million to a competitor in the farm chemicals and crop
biotechnology businesses. A jury in Greensboro, N.C., awarded the money, which included $50
million in punitive damages, to Rhone-Poulenc, a French life sciences company.
First, **Monsanto** will ask the trial judge to set aside the award; if
that fails, the company will appeal.
Rhone-Poulenc filed suit in late 1997, accusing **Monsanto** and DeKalb
Genetics Corp., a seed company, of improperly using genetic material owned
by Rhone- Poulenc for several DeKalb corn varieties.
DeKalb was developing these varieties with **Monsanto**'s genetic-
engineering technology to tolerate the herbicide Roundup. **Monsanto** said
the verdict "will have no immediate effect" on **Monsanto**'s and DeKalb's
efforts to sell "Roundup Ready" corn.
When the suit was filed, **Monsanto** owned 40 percent of DeKalb;
**Monsanto** now owns all of it.