The Supreme Court has sustained Monsanto Co.'s claim that an Indiana farmer violated the company's patents on soybean seeds that are resistant to its weed-killer.
The justices, in a unanimous vote Monday, rejected the farmer's argument that cheap soybeans he bought from a grain elevator are not covered by the Monsanto patents, even though most of them also were genetically modified to resist the company's Roundup herbicide.
Agribusiness giant Monsanto has announced a $400 million expansion at its suburban Chesterfield research center.
The company plans to add 36 new greenhouses, plus additional "plant growth chambers," offices and laboratory space at the Chesterfield Village Research Center, on the former Pfizer campus. According to Monsanto the project will add as many as 675 jobs over the next three years
Missouri Governor Jay Nixon was on hand to announce the expansion at Chicago’s International Bio Convention.
Genetically-modified seeds — and the technology to produce them — have been at the center of a bitter legal fight between the two companies. Dupont will pay Monsanto more than $1.5 billion in the deal. With that, the companies will drop their patent and antitrust claims against each other.
Last week, the U.S. Supreme Court heard oral arguments in a legal battle between St. Louis-based Monsanto and a 75-year-old farmer from Indiana named Vernon Hugh Bowman.
While some Supreme Court justices have already tipped their hat signifying Monsanto will likely win the case, the issue revolves around whether Bowman violated Monsanto’s patent rights when he planted soybean seeds from a grain elevator.
This week, the Supreme Court will take up a classic David-and-Goliath case. On one side, there's a 75-year-old farmer in Indiana named Vernon Hugh Bowman; on the other, the agribusiness giant Monsanto.
Monsanto says its net income nearly tripled in the agricultural products company's first quarter as sales of its biotech corn seeds expanded in Latin American countries.
The company, which is based in St. Louis, is also raising its profit guidance for the year, and shares are up 4 percent in premarket trading. Monsanto said Tuesday that it earned $339 million, or 63 cents per share, in the three months ended November 30, from $126 million, or 23 cents per share, in last year's quarter.