Enzyme Dispute Settled as Expected
Danisco said that the total amount, which is due for immediate payment to Novozymes, will not have an impact on earnings expectations for 2006/07 as provision was previously made for the amount.
17/04/07 A settlement has been reached on the level of reasonable legal costs, incurred prejudgment interest etc. in the patent dispute over SPEZYME ETHYL between Danisco and Novozymes.
Accordingly, Novozymes A/S will receive a total payment of USD 15.3 million inclusive of patent infringement damages of USD 8.2 million.
Concurrently, the parties have concluded an agreement on reciprocal waiving of the right to appeal the decision of the court of first instance and have agreed not to publish any details of the settlement.
Danisco said that the total amount, which is due for immediate payment, will not have an impact on earnings expectations for 2006/07 as provision was previously made for the amount.
Danisco releases its results for the financial year 2006/07 on 20 June 2007.
