Shares in Bayer hit an almost 7-year low on Thursday after a U.S. jury awarded $...
FRANKFURT - Shares in Bayer hit an almost 7-year low on Thursday after a U.S. jury awarded $80 million to a man claiming use of the group’s weed killer Roundup caused his cancer, with thousands of similar lawsuits looming.
German chemicals giant Bayer, which bought Roundup maker Monsanto last year for $63 billion, said it would appeal the verdict. The trial is only the second of more than 11,200 Roundup lawsuits set to go to trial in the United States. “Even if Monsanto/Bayer may win some cases, there is great uncertainty about the number of victories and defeats. That is why we expect Bayer to try to settle the remaining cases,” said Bryan Garnier analyst Jean-Jacques Le Fur.
Monsanto’s Roundup was the first to contain glyphosate, the world’s most widely used weed killer. But it is no longer patent-protected and many other versions are available.
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