[ad_1]
© Reuters. FILE PHOTO: The principle plant and headquarters of German pharmaceutical and chemical maker Bayer AG is pictured alongside western Europe’s most essential waterway in Leverkusen, Germany, Could 14, 2019. REUTERS/Wolfgang Rattay/File Picture
SAO PAULO (Reuters) – Bayer (OTC:) rejected on Tuesday a declare by a Brazilian farmers’ foyer group that the nation’s high court docket had ordered the diversified German firm to return about $2 billion in royalties to soybean farmers.
The case, which is expounded to a regulation dispute in Brazil about extensions of patents for greater than 20 years, is the most recent chapter of a protracted battle between Bayer and Brazilian farmers, who’ve launched a number of authorized challenges in opposition to the corporate.
Mato Grosso state farmer foyer Aprosoja-MT stated in an announcement the Supreme Courtroom ordered Bayer on Tuesday to return to farmers royalties they’ve paid since 2018 associated to 2 patents of genetically modified organism generally known as Intacta RR2 PRO.
The know-how was created by Monsanto (NYSE:), which was later acquired by Bayer.
Aprosoja-MT calculated the quantity to be paid at 10 billion reais ($2 billion), because it sees a mean of two billion reais per 12 months since 2018, Sidney Pereira, Aprosoja-MT’s lawyer within the case, advised Reuters. A part of it had already been deposited as a authorized assure by Bayer after a court docket choice final 12 months, he added.
Bayer, however, interpreted the court docket’s ruling in a different way.
The agency stated in an announcement that the choice simply affirms its obligation to proceed to current a procedural assure within the authorized motion in case it loses the case in future.
It stated Tuesday’s choice doesn’t relate to the dispute’s benefit, which it added continues to be to be dominated upon.
Aprosoja-MT’s lawyer Pereira disagreed with Bayer, saying the farmers’ foyer group will now search enforcement of the cost order.
The Supreme Courtroom didn’t reply to a request for remark outdoors regular working hours.
($1 = 4.9695 reais)
[ad_2]
Source link
