Genus PLC SUCCESSFUL LEGAL OUTCOME FOR GENUS (2751B)
03 April 2017 - 4:00PM
UK Regulatory
TIDMGNS
RNS Number : 2751B
Genus PLC
03 April 2017
For immediate release 3 April 2017
Genus plc
('Genus' or the 'Group')
SUCCESSFUL LEGAL OUTCOME FOR GENUS
Genus plc (LSE: GNS), a global pioneer in animal genetics, is
pleased to announce that on 31 March 2017 an injunction was awarded
in its favour in connection with its litigation against Inguran
LLC, operating as Sexing Technologies ('ST').
In granting the permanent injunction in Genus's favour, the US
District Court for the Western District of Wisconsin, confirmed
that (i) ST is prevented from enforcing certain research, marketing
and non-compete restrictions under the 2012 Semen Sorting Agreement
between ST and ABS Global, Inc. ('2012 Agreement'), an affiliate of
Genus; and (ii) other bull studs in the US are permitted to
terminate their ST sexed semen processing agreements on 12 months'
notice, without damage or penalty. The injunction will remain in
force for five years and ST is required by the Court to give prompt
written notice of the Court's decision to the other bull studs.
The 2012 Agreement will remain in place until its expiry on 31
August 2017 and Genus will consider its options for appeal in
relation to other post-verdict motion decisions from the Court,
including the Court's decision to support the validity of certain
ST patents.
As a result of this positive outcome, contractual restrictions
blocking the way for commercial launch of Genus Sexed Semen ('GSS')
have been removed by the Court, enabling the commercialisation of
GSS and providing ABS customers and third party bull studs with an
alternative service provider and increased competition in the
market for the processing of sexed bovine semen. GSS is a novel
technology for sexing bovine semen that is ready for the market.
GSS focuses on fertility outcomes and does not subject the sperm
cells to the high pressures and sheer forces of the technology
currently in use in the industry.
In a jury verdict in August 2016, ST was found to have wilfully
maintained monopoly power in the market for sexed bovine semen
processing in the US since July 2012. The permanent injunction
awarded by the Court confirms the jury verdict of wilful
maintenance of monopoly power by ST. Genus is committed to bringing
competition to the market, with the commercial launch of GSS in the
US and other key markets globally during the course of 2017.
For further information, please contact:
Genus Tel: +44(0)1256 345970
Karim Bitar, Chief Executive
Stephen Wilson, Group Finance Director
Dan Hartley, Group General Counsel and Company Secretary (for
legal enquiries)
Buchanan Tel: +44(0)207 466 5000
Charles Ryland / Vicky Hayns
About Genus
Genus creates advances to animal breeding and genetic
improvement by applying biotechnology and sells added value
products for livestock farming and food producers. Its technology
is applicable across all livestock species and is currently
commercialised by Genus in the dairy, beef and pork food production
sectors.
Genus's worldwide sales are made in over seventy-five countries
under the trademarks 'ABS' (dairy and beef cattle) and 'PIC' (pigs)
and comprise semen, embryos and breeding animals with superior
genetics to those animals currently in production. Genus's
customers' animals produce offspring with greater production
efficiency, and quality, and use these to supply the global dairy
and meat supply chain.
The Group's competitive edge has been created from the ownership
and control of proprietary lines of breeding animals, the
biotechnology used to improve them and its global supply chain,
technical service and sales and distribution network.
With headquarters in Basingstoke, United Kingdom, Genus
companies operate in over twenty-five countries on six continents,
with research laboratories located in Madison, Wisconsin, USA.
This information is provided by RNS
The company news service from the London Stock Exchange
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