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Monsanto wins appeal

(Aug. 9, 2002 -- CropChoice news) -- Monsanto announced that it had prevailed in the California Supreme Court where the justices ruled against Mycogen Corp. in its effort to recover $174.9 million in damages from Monsanto following a dispute over genetically engineered crop technology. Mycogen is a subsidiary of Dow Chemical Co.

In 1989, Monsanto granted Lubrizol Genetics an option to license its insect-resistant corn, cotton and soybean technology. But after Mycogen bought Lubrizol, Monsanto refused to award the license. Monsanto later backed down, but Mycgoen argued that the delay diminished its profit.

A trial jury awarded Mycogen the $174.9 million in damages, but a state appeals court overturned the decision. The supreme court has now upheld that appeal.

Source: Dow Jones Newswire