Brazilian judge orders local units of Monsanto to put royalties into escrow account
São Paulo — A Brazilian judge has ordered local units of Monsanto to put royalties related to a genetically modified (GM) soy-seed technology into an escrow account, in a decision likely to hinder the US seed company’s ability to collect royalties from the business. The July 3 ruling relates to a patent dispute between Brazilian soy growers in the state of Mato Grosso and Monsanto, which was recently acquired by Germany’s Bayer in a €63bn deal. The judge ordered local units of Monsanto to deposit royalties related to Intacta RR2 Pro into an escrow account, pending the end of the patent litigation, according to the decision seen by Reuters. Brazilian soy growers suing Monsanto over the validity of the patent said on Wednesday that they expect the company to collect 800-million reais ($204m) in royalties related to the seed technology in the 2017-18 crop cycle. Monsanto declined to comment on the value of Intacta-related royalties in Brazil. Bayer declined to comment on the court ruli...
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