Bayer shares tumble after Monsanto payout in weedkiller case

A riverside view of Bayer chemical corporation in Leverkusen, Germany Symbol copyright EPA

Stocks in German pharmaceutical group Bayer have dropped sharply following a US verdict linking a product to cancer.

By mid-morning on Monday, Bayer’s shares had misplaced 10.4% of their value.

Bayer owns agriculture large Monsanto – which was ordered by way of a California judge on Friday to pay $289m (£226m) damages to a man who mentioned foods utilized in a weedkiller had led to his cancer.

Bayer says the product – glyphosate – is secure. It finished its $66bn takeover of Monsanto in June.

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The landmark lawsuit was once the primary to move to trial alleging a glyphosate link to cancer.

Image copyright Getty Pictures

What’s glyphosate and is it dangerous?

Glyphosate used to be offered via Monsanto in 1974, however its patent expired in 2000, and now the chemical is bought through quite a lot of manufacturers. in the US, more than 750 merchandise include it.

In 2015, the International Agency for Analysis on Most Cancers, The Sector Well Being Organisation’s cancer company, concluded that glyphosate used to be “most definitely carcinogenic to humans”.

On The Other Hand, the u.s. Environmental Protection Company (EPA) insists it is protected while used carefully.

The Ecu Meals Safety Authority (EFSA) additionally says glyphosate is not going to cause most cancers in people.

Last November 2017 EU international locations voted to renew the licence of glyphosate despite campaigns towards it.

BBC North American correspondent James Prepare Dinner suggested that during California – the place a judge not too long ago dominated that coffee must carry a cancer warning – the agriculture business sued to prevent this sort of label for glyphosate, even if the state lists it as a chemical identified to lead to cancer.

What will we learn about glyphosate?

What happened within the groundsman case?

Jurors discovered on Friday that Monsanto had acted with “malice” and that its weed killers contributed “considerably” to Mr Johnson’s terminal sickness.

Symbol copyright AFP / Getty Images Image caption Dewayne Johnson reacting to the verdict in a San Francisco court

Following an eight-week trial, the jury ordered the corporate to pay $250m in punitive damages along with other prices that introduced the entire figure to nearly $290m.

Mr Johnson’s attorney, Brent Wisner, stated the jury’s verdict confirmed that the evidence towards the product was once “overwhelming”.

“When You are proper, it is really easy to win,” he mentioned.

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