Monsanto (MON) won a patent infringement trial in the U.S. District Court against DuPont Pioneer, formally Pioneer Hi-Bred International, Inc., a wholly owned subsidiary of E. I. du Pont de Nemours and Company. The trial had centered on DuPont's unauthorized use of Monsanto's patented Roundup Ready technology. In rendering its verdict, the federal jury found that DuPont (DD) and DuPont Pioneer had willfully infringed Monsanto's patented Roundup Ready technology when it tried to patch the problems with DuPont's own Optimum GAT, or OGAT, technology that had failed in earlier development. The jury awarded damages of $1B to Monsanto based on DuPont's willful infringement of its technology and the improper head start that DuPont obtained when it infringed Monsanto's technology rights. The finding of willful infringement could lead to an increased award of damages in the case. This verdict represents the third time that court proceedings have determined that DuPont or DuPont Pioneer has violated a trait licensing agreement with Monsanto.
Happy demi-anniversary, stock market rally. Will the honeymoon ever end?