Bayer wanted after US ruling on glyphosate
More than 50,000 lawsuits relating to the herbicide glyphosate are still weighing on DAX-listed Bayer. Now the Leverkusen-based company has once again received a positive verdict in the USA. Analysts do not see this as a turnaround. Nevertheless, investors are no longer cautious about the share.
Following a favorable glyphosate ruling for the agrochemicals group Bayer in the USA, investors are buying into the Leverkusen-based DAX company. The share price rises by almost three percent at its peak. By late morning, the gain was 2.4 percent. However, market participants dampen expectations of the verdict. The outcome of the trial is nothing more than a stage victory after several defeats. The fundamental picture remains difficult and there can be no talk of the all-clear.
After losing five lawsuits in a row, Bayer has once again won a glyphosate lawsuit in the USA. The verdict by a jury in San Benito County was in line with the evidence in the case that the weed killer Roundup did not cause cancer and was not responsible for the plaintiff's illness, the company announced.
Bayer has been facing similar lawsuits in the USA for a long time. The lawsuits were brought by the company when it acquired glyphosate developer Monsanto in 2018. According to Bayer, 52,000 of the approximately 165,000 lawsuits filed were still open. Bayer had always rejected the allegations against the herbicide. Authorities worldwide have classified the product as non-carcinogenic. The World Health Organization's cancer research agency IARC, however, classified the active ingredient as "probably carcinogenic" in 2015.
Following the most recent ruling, Bayer stated that it had now won 10 of the last 15 lawsuits and that its strategy of pursuing lawsuits in court had been strengthened. Bayer has already paid around 9.5 billion dollars to get lawsuits off the table. Just last week, a US jury in the state of Washington ordered the Leverkusen-based company to pay damages totaling 857 million US dollars (785 million euros). Former students and parents of a school in the Seattle area are to receive this amount. As in other cases, Bayer intends to appeal the verdict.
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Source: www.ntv.de
