PatIntNews

Monsanto Company and Drexel Chemical announced that they have reached a Commercial Agreement regarding patents Monsanto owns on the manufacture, use and sale of types of glyphosate based herbicides.

This agreement provides Drexel a license under Monsanto patents covering the manufacture of glyphosate using certain catalysts and Drexel agrees to cease selling potassium salt glyphosate formulations in the US in the future and to sell its existing inventory of these products in an agreed upon timeframe.

Monsanto had maintained Drexel's sale of glyphosate formulations containing potassium salt of glyphosate that went against Monsanto patents covering the manufacture, of potassium salt of glyphosate formulations.

"We are pleased to have reached a mutually satisfactory resolution of those issues which recognizes, and is consistent with, our substantial proprietary rights regarding glyphosate products," Sean Gardner, global chemistry lead at Monsanto said.

"We are pleased to resolve all of our outstanding issues with Monsanto and to have obtained an agreement which will allow our Drexel glyphosate products to be marketed in a manner consistent with Monsanto's Intellectual Property. The specific terms of the settlement are confidential," Drexel Chairman and CEO Bob Shockey stated.