LycoRed Dismisses Patent Lawsuit Against Parry

ORANGE, N.J. LycoRed, a supplier of specialty ingredients for coloring, dietary supplementation, food fortification and flavor enhancement, today announced settling a 2012 patent infringement lawsuit against a company that is part of India's business conglomerate Murugappa Group.

The settlement is with Parry and concerns 3 U.S. patents that relate to tomato lycopene products and associated manufacturing processes. As part of the confidential settlement, Parry is withdrawing requests for review in the U.S. Patent Office and has agreed not to challenge LycoRed's asserted patents, the companies noted.

This settlement allows Parry to continue to offer lycopene products as part of its portfolio of quality ingredient sourcing alternatives to U.S. companies in the field of nutraceuticals for use in dietary supplements, functional foods, beverages and nutricosmeticals," said Sajiv Menon, Business Head of Parry, in a statement.

Although Parry previously withdrew lycopene products from the United States, the company said it will resume offering these products following the settlement.

In March 2012, LycoRed filed the lawsuit against U.S. Nutraceuticals LLC, EID Parry (India) Ltd. and Parry Phytoremedies PVT, Ltd. The complaint has been dismissed, Parry said.