Business Journal: Monsanto Pays UC
The Monsanto Corporation will be paying the University of California $100 Million for a hormone that increases milk production in cows.
Monday, February 27, 2006
Two years ago the university sued Monsanto. Thus began a patent dispute, with the trial about to begin this week. The point of contention was bovine growth hormone, which Monsanto sells to dairy producers. Its brand name is Posilac.
In return for the $100 million settlement, the university is dropping its suit. Monsanto will now have exclusive rights to make the genetically engineered protein, developed by a UC professor in San Francisco. In addition, Monsanto will give UC $5 million a year or more in royalties on every dose of Posilac that’s sold.