April 18, 2007

Danisco settles Spezyme Ethyl patent dispute
 

Press release
 

Danisco has reached a settlement with Novozymes A/S regarding the level of reasonable legal costs, incurred prejudgment interest and other issues in the Spezyme Ethyl patent dispute.
 

Under the settlement, Novozymes A/S will receive a total payment of US$15.3 million inclusive of US$8.2 million in patent infringement damages.

Concurrently, the parties have concluded an agreement on reciprocal waiving of the right to appeal the decision of the court of first instance and have agreed not to publish any details of the settlement.

The total amount, which is due for immediate payment, will not have an impact on Danisco's earnings expectations for 2006/07 as provision was previously made for the amount.

Danisco is expected to release its results for the financial year 2006/07 on Jun 20, 2007.