Neogen will also seek to recover its attorney fees and litigation costs. Before we ever introduced our new product, we obtained legal opinions from two independent law firms, which correctly advised us that our new product did not infringe on any patent licensed to Vicam. In 1996, Vicam and Radlo sent a letter to a large number of companies and other entities alleging that one of Neogen's diagnostic tests infringed on two patents licensed to Vicam. The letter threatened those companies and entities with legal action if they purchased Neogen's new product to detect aflatoxin. Aflatoxin is a known carcinogen and is subject to FDA regulations.
Companies using grains and nuts routinely test for the toxin as part of their food safety programs.
After Vicam and Radlo refused Neogen's request for a retraction of the patent infringement allegations, Neogen brought suit seeking a declaratory judgment of non-infringment and for monetary damages. Neogen Corporation develops and markets products and services dedicated to food and animal safety. The Company's Food Safety Division markets diagnostic test kits to detect foodborne bacteria, natural toxins, food allergens, drug residues, plant diseases and sanitation concerns. Neogen's Animal Safety Division markets a complete line of veterinary instruments and a line of premium equine health care products. Certain portions of this news release that do not relate to historical financial information constitute forward-looking statements.