Settle IP issue out-of-court
BANGALORE, India.-Tuesday 7 January 2020 [ AETOS Wire ]
(BUSINESS WIRE)-- STEER Engineering, creator of advanced materials platform technologies that effectively transform and functionalise materials in the fields of plastics, pharmaceuticals, food & nutraceuticals, biomaterials and biorefining, announced that it has reached an out-of-court settlement with Glaxo Smith Kline Group (GSK) with regard to the use of their revolutionary technology to produce Horlicks.
Following the settlement, GSK has issued a public statement acknowledging STEER’s contribution in creating step change technology to produce Horlicks. GSK said,“Using STEER’s state-of-the-art technology, high quality extruders, and dedicated personnel, the project has brought a new-to-world technology to fruition, involving numerous improvements compared to the traditional way Horlicks is made. The new process requires only half the footprint of a traditional factory, uses a fifth of the water and reduces the energy usage by 80%.”
Stating that the two companies have reached a satisfactory settlement, the Managing Director of STEER, Dr. Babu Padmanabhan said, “There is no other technology available in the market that has this immense cost benefit and extraordinary performance. Apart from Horlicks, the technology can be used for the manufacture of other food ingredients. STEER will continue to remain focused on supporting India’s quest in bridging the nutrition gap and help ensure food supply-demand stability.”
It may be recalled that in December 2018, STEER had gone to court seeking protection of the technology and know-how it had provided to GlaxoSmithKline Group (GSK) for manufacture of Horlicks, after GSK announced the deal with Hindustan Unilever Limited for its Consumer Healthcare business in India, leading to IP issues which have been settled.
STEER is a creator of advanced material platform / manufacturing technologies that transform functionality of differentiated plastics, pharmaceuticals, food & nutraceuticals and biomaterials. Founded in 1993 by Dr. Babu Padmanabhan with a vision to “steer a new world” – a world that is healthy and sustainable, STEER today has 5 global offices and 10 satellite offices, serving over 39 countries and employs over 500 gifted engineers, scientists and technicians across the globe. With 60 patents for breakthrough innovations, the company is committed to the design, creation and implementation of game-changing continuous process technologies.
Amit Jain, Equator Consultants
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