Bayer down over 5% after latest $2.25B Roundup verdict
Markets
1h ago(Source: baha news)
EPA-EFE/SASCHA STEINBACH
MARKETS
The shares of Bayer AG tumbled on Monday following the news that the firm was ordered to pay $2.25 billion in damages to a man who sued it for allegedly getting cancer from the use of the Roundup
weedkiller.
A jury in a Philadelphia court revealed that Bayer will be paying the man, named John McKivison, $250 million for his losses, alongside $2 billion in punitive damages. Ever since the German pharmaceutical giant
took over the Monsanto Company in 2018, in an agreement valued at around $63 billion, it has been dealing with numerous Roundup weedkiller
lawsuits.
The company's stock dropped 5.06% at 9:25 am CET, going for €30.680 apiece.