Genus says ABS on hook to pay more royalties following ruling on damages related to patent infringements

09:49 11/09/2019
StockMarketWire.com - Animal genetics company Genus said a US court reached a decision on damages that flow from the ABS Global's infringement of two patents asserted by Inguran and Cytonome. The decision arrived a day after a jury confirmed ABS should pay royalties on additional patent infringement.

The jury held that ABS should pay a royalty of $2.60 per straw sold for the infringement of US patents '476 and '309 for 3,295,355m straws sold by ABS up to 30 June 2019.

The decision arrived a day after the jury confirmed ABS' existing obligation to pay a royalty of $1.25 for each straw of sexed semen produced in the US for the infringing patent '987.

On 9 September 2019, the jury held that ABS Global's sales of Genus' sexing semen technology under the IntelliGen brand infringed three patents asserted by Inguran and Cytonome collectively known as ST. ABS said it was considering its options for appeal.



At 9:49am: (LON:GNS) Genus PLC share price was +20p at 2874p



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