March 26, 2013 / 12:32 PM / 4 years ago

Monsanto, DuPont settle antitrust, patent lawsuits, set new deal

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March 26 (Reuters) - Top global seed rivals Monsanto Co and DuPont said Tuesday they settled a bitter legal battle over rights to technology for genetically modified seeds and will drop antitrust and patent lawsuits against each other in federal court.

Under the agreements, DuPont will make a series of royalty payments for soybean genetic material, including $802 million from 2014 to 2017 for trait technology, associated data and soybean lines to support commercial introduction.

The deal dismisses a $1 billion verdict against DuPont.

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