Novozymes terminates patent infringement suit
Novozymes A/S will receive a total settlement of USD 15.3 million in connection with the termination of the US patent infringement suit against Danisco A/S.
With reference to stock exchange announcement No. 9, 2007, ”Novozymes receives compensation for patent infringement”, notice is hereby given that Novozymes and Danisco have now reached agreement as to the level of fair legal costs, accrued process interest, etc. Thereby the total payment to Novozymes will be USD 15.3 million, including the damage payment for patent infringement of USD 8.2 million. At the same time the parties have entered an agreement to mutually abandon their right to appeal the first court decision. Danisco and Novozymes have agreed not to publish details of the settlement.
The settlement is currently awaiting the judge's final approval and signature, which is expected before the end of this week and is regarded as a formality.
The total settlement amount, which is due for payment immediately, will have a positive net impact on Novozymes’ operating profit in 2007 of approximately DKK 75-80 million.