Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Xetra  >  Bayer    BAYN   DE000BAY0017

BAYER

(BAYN)
My previous session
Most popular
  Report  
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Exclusive: Bayer's Monsanto wins arbitration ruling over royalties from Indian seed company

share with twitter share with LinkedIn share with facebook
share via e-mail
0
02/11/2019 | 01:03pm EST
FILE PHOTO: Monsanto is displayed on a screen where the stock is traded on the floor of the NYSE

NEW DELHI (Reuters) - German drugmaker Bayer AG's Monsanto unit has won proceedings against Indian seed maker Nuziveedu Seeds Ltd (NSL) in a royalty dispute, lawyers familiar with the matter said.

The lawyers, who did not wish to be named as the decision was not public, did not disclose the terms of the arbitration ruling.

Mahyco Monsanto Biotech (India) (MMB), a joint venture between Missouri-based Monsanto and India's Maharashtra Hybrid Seeds Co (Mahyco), "has received a favorable award from the arbitration panel in the proceedings against NSL and Prabhat", a Bayer spokesman said in an e-mailed statement when asked about the ruling.

He declined to say how much NSL and one of its affiliates, Prabhat Agri Biotech Ltd, had been told to pay MMB. By Monsanto's calculations, NSL and its two affiliates owed about $22.82 million to MMB.

"The award is confidential and we will not be able to share any further details at this stage," said the Bayer spokesman.

NSL said the arbitration tribunal had directed both parties to maintain the confidentiality of proceedings and they were not allowed to make public statements.

NSL has the right to appeal the arbitration ruling in a court, the lawyers said.

MMB sells genetically modified (GM) cotton seeds under license to nearly 40 Indian seed companies, which in turn sell the products to retailers.

NSL and two of its affiliates were among the 40.

But NSL and its affiliates decided to stop paying royalties, or trait fees, to MMB in 2015, arguing that Indian law did not provide Monsanto with patent protection on its GM cotton seeds, and if there were to be payments they should be set by the Indian government. Monsanto had insisted it has patent protection in India and it therefore could collect royalties through bilateral contracts with the Indian seed companies. A spokesman for Mahyco said it was referring all questions on the matter to Bayer.

The tribunal consisted of three retired judges, according to the lawyers, though their identities have not been disclosed.

Last month India's Supreme Court set aside an order by the Delhi High Court, which in April 2018 said that Monsanto could not claim patents on its GM cotton seeds.

Hindu nationalist groups close to Prime Minister Narendra Modi's ruling Bharatiya Janata Party have opposed both Monsanto and GM technology in India's agricultur
e, Reuters revealed in a special report in 2017. (https://reut.rs/2p7eIrE

India's farm ministry has twice slashed royalties that local seed companies pay to Monsanto. The ministry has also cut cotton seed prices.

After a spate of unfavorable government orders and a tussle over royalty payments, Monsanto in 2016 withdrew an application seeking approval for
its next generation of GM cotton seeds in India. (https://reut.rs/2jbDq80

(Reporting by Mayank Bhardwaj; editing by Martin Howell and Alex Richardson)

By Mayank Bhardwaj

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on BAYER
02/15Bayer gains full Vitrakvi rights from Eli Lilly's Loxo
RE
02/12How a Philippines regulator stymied DowDuPont's global seed launch
RE
02/11Sources Say Monsanto Wins Arbitration Ruling in India Seed Dispute -- Reuters
DJ
02/11EXCLUSIVE : Bayer's Monsanto wins arbitration ruling over royalties from Indian ..
RE
02/08EXCLUSIVE : Brazil soy farmers say Bayer violating court ruling in patent disput..
RE
02/07Bayer CropScience Q3 profit up over twofold
AQ
02/06BAYER : French, German farmers destroy crops after GMOs found in Bayer seeds
RE
02/06BAYER : Return of French farmer's case keeps Monsanto in legal spotlight
RE
02/05U.S. jury orders Takeda to pay Bayer $155 million over haemophilia drug
RE
02/05BAYER CROPSCIENCE LIMITED : reports Q3 results
AQ
More news
Financials (€)
Sales 2018 39 254 M
EBIT 2018 7 429 M
Net income 2018 4 936 M
Debt 2018 38 407 M
Yield 2018 4,12%
P/E ratio 2018 12,70
P/E ratio 2019 14,66
EV / Sales 2018 2,60x
EV / Sales 2019 2,15x
Capitalization 63 572 M
Chart BAYER
Duration : Period :
Bayer Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends BAYER
Short TermMid-TermLong Term
TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 26
Average target price 90,7 €
Spread / Average Target 33%
EPS Revisions
Managers
NameTitle
Werner Baumann Chairman-Management Board
Werner Wenning Chairman-Supervisory Board
Wolfgang U. Nickl Chief Financial Officer
Katharina Jansen Head-Science & Research
Hartmut Klusik Head-Human Resources, Technology & Sustainability
Sector and Competitors
1st jan.Capitalization (M$)
BAYER12.57%71 798
JOHNSON & JOHNSON4.08%365 768
PFIZER-3.85%245 920
ROCHE HOLDING LTD.11.98%233 242
NOVARTIS7.19%228 685
MERCK AND COMPANY4.45%207 536