Stock Market News

Bayer ordered to pay $1.56 billion in latest US trial loss over Roundup weedkiller

2023.11.19 13:10


© Reuters. FILE PHOTO: Logo of Bayer AG is pictured at the annual results news conference of the German drugmaker in Leverkusen, Germany February 27, 2019. REUTERS/Wolfgang Rattay

By Tom Hals

(Reuters) – A Missouri jury ordered Bayer (OTC:) to pay $1.56 billion to four plaintiffs who claimed the company’s Roundup weedkiller caused injuries including cancer, a verdict that could intensify investor pressure on the German drugs and agricultural chemicals company to change its legal strategy.

The Cole County, Missouri jury found on Friday that Bayer’s Monsanto (NYSE:) business was liable for claims of negligence, design defects and failing to warn plaintiffs of the potential dangers of using Roundup, according to court documents.

Valorie Gunther of New York, Jimmy Draeger of Missouri and Daniel Anderson of California were awarded a combined $61.1 million in compensatory damages and $500 million each in punitive damages. Each was diagnosed with non-Hodgkin lymphoma that they alleged was caused by using Roundup on their family property. Draeger’s wife Brenda was awarded $100,000 for the harm she allegedly suffered from her husband’s disease.

The punitive damages could be reduced on appeal as it exceeds U.S. Supreme Court guidance.

Bayer has said that decades of studies have shown Roundup and its active ingredient, glyphosate, are safe for human use.

The verdict is the fourth straight loss in court for Bayer, after the company had been found not liable to plaintiffs in nine consecutive trials. Earlier this month, Union Investment, one of Bayer’s top 10 shareholders, called on the company to consider trying to engage with plaintiffs to settle more cases.

Bart Rankin, partner at Forrest Weldon which represented the plaintiffs, said in a statement the victory was the first of many on behalf of thousands of plaintiffs.

Bayer said in a statement that it has strong arguments to get the recent verdicts overturned on appeal.

It said in the recent trials that have gone against the company, courts have improperly permitted plaintiffs to misrepresent the European Union’s renewal process for glyphosate and the safety assessment by the U.S. Environmental Protection Agency.

The EU Commission said last week it would renew its approval of glyphosate based on safety assessments of the European Food Agency and European Chemicals Agency after EU member states failed to give a clear opinion on the renewal.

Around 165,000 claims have been made against the company for personal injuries allegedly caused by Roundup, which Bayer acquired as part of its $63 billion purchase of agrochemical company Monsanto in 2018.

In 2020, Bayer settled most of the then-pending Roundup cases for up to $10.9 billion. Around 50,000 claims remain pending, according to regulatory filings.

Source link

Related Articles

Back to top button
bitcoin
Bitcoin (BTC) $ 76,123.40 1.38%
vested-xor
Vested XOR (VXOR) $ 3,405.08 99,999.99%
ethereum
Ethereum (ETH) $ 2,916.79 3.19%
tether
Tether (USDT) $ 1.00 0.14%
solana
Solana (SOL) $ 201.48 6.99%
bnb
BNB (BNB) $ 597.20 0.39%
usd-coin
USDC (USDC) $ 1.00 0.05%
xrp
XRP (XRP) $ 0.549923 0.85%
dogecoin
Dogecoin (DOGE) $ 0.19859 3.68%
staked-ether
Lido Staked Ether (STETH) $ 2,913.58 3.06%
cardano
Cardano (ADA) $ 0.428168 15.34%
tron
TRON (TRX) $ 0.161314 0.26%
wrapped-steth
Wrapped stETH (WSTETH) $ 3,452.66 3.23%
the-open-network
Toncoin (TON) $ 4.87 0.22%
avalanche-2
Avalanche (AVAX) $ 27.71 2.82%
shiba-inu
Shiba Inu (SHIB) $ 0.000019 1.85%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 76,079.38 1.21%
weth
WETH (WETH) $ 2,916.95 3.20%
chainlink
Chainlink (LINK) $ 12.93 4.92%
bitcoin-cash
Bitcoin Cash (BCH) $ 373.76 0.76%
sui
Sui (SUI) $ 2.31 3.02%
polkadot
Polkadot (DOT) $ 4.29 5.13%
leo-token
LEO Token (LEO) $ 6.34 3.18%
usds
USDS (USDS) $ 0.9938 0.63%
wrapped-eeth
Wrapped eETH (WEETH) $ 3,067.42 3.22%
litecoin
Litecoin (LTC) $ 71.05 0.19%
uniswap
Uniswap (UNI) $ 8.76 1.72%
near
NEAR Protocol (NEAR) $ 4.20 0.62%
aptos
Aptos (APT) $ 9.67 0.95%
pepe
Pepe (PEPE) $ 0.000011 4.09%
bittensor
Bittensor (TAO) $ 504.53 1.46%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.41 1.48%
internet-computer
Internet Computer (ICP) $ 7.72 0.03%
dai
Dai (DAI) $ 1.00 0.04%
monero
Monero (XMR) $ 165.44 2.05%
stellar
Stellar (XLM) $ 0.101607 3.54%
ethereum-classic
Ethereum Classic (ETC) $ 20.22 0.77%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.01%
kaspa
Kaspa (KAS) $ 0.11328 4.79%
whitebit
WhiteBIT Coin (WBT) $ 19.58 1.14%
crypto-com-chain
Cronos (CRO) $ 0.103771 21.17%
aave
Aave (AAVE) $ 180.69 2.16%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.347594 1.60%
blockstack
Stacks (STX) $ 1.65 1.04%
okb
OKB (OKB) $ 40.23 0.57%
first-digital-usd
First Digital USD (FDUSD) $ 1.00 0.04%
dogwifcoin
dogwifhat (WIF) $ 2.35 0.50%
arbitrum
Arbitrum (ARB) $ 0.571414 0.32%
filecoin
Filecoin (FIL) $ 3.72 0.16%
mantle
Mantle (MNT) $ 0.656984 3.79%