Bayer shares plummet after Roundup cancer trial

Bayer shares plunged more than 10 percent on Monday after a California jury ordered the German company’s newly acquired Monsanto subsidiary to pay $289 million for not warning of cancer risks posed by its main weed killer.

The case against Monsanto, bought by Bayer this year for $63 billion, is the first of more than 5,000 similar lawsuits over the company’s glyphosate-based weedkillers, including its Roundup brand, across the United States.

Monsanto said on Friday that it would appeal against the verdict which is the latest episode in a long-running debate over claims that exposure to Roundup can cause cancer.

Barclays analysts said Bayer was in for a “litigious headache”.

“Whilst an appeal is certain and may indeed likely result in the penalty being moderated at a minimum if not reversed altogether, a large number of similar pending cases will now likely multiply.”

The controversy could also affect future revenues.


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