Bayer nears seven-year low after California couple awarded $2 billion in Roundup trial via LudwigBurger
Frankfurt - Bayer shares fell by as much as 5 percent on Tuesday after a California couple were awarded more than $2 billion in the largest U.S. jury penalty over allegations its Roundup weed killer causes cancer.
Bayer said in a statement on Monday it was disappointed with the verdict and would appeal. A spokesman called the jury’s decision “excessive and unjustifiable”. “However, the level of compensatory damages is still likely to be somewhat of a concern to the market given the level is above the Hardeman case,” they added, referring to $5 million in compensatory damages awarded to a plaintiff in a previous case.
Bayer, inventor of Aspirin and maker of stroke prevention drug Xarelto and Yasmin birth control pills, faces U.S. lawsuits from more than 13,400 plaintiffs over the herbicide’s alleged cancer risk. FILE PHOTO: The Bayer AG logo sits on display at the headquarters in La Garenne-Colombes, near Paris, France, May 13, 2019. REUTERS/Benoit Tessier/File Photo
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