Shares in Bayer, the German pharmaceutical firm, fell by up to 14% at a cost of $14bn, after Monsanto, which was acquired by Bayer in June of this year, was ordered to pay $289m in damages to a groundskeeper with terminal cancer. The case is the first in possibly thousands of lawsuits in the U.S. concerning alleged links between Monsanto’s Roundup weedkiller and cancer. Monsanto plans to appeal the verdict. Bayer shares fell by 11.2% to €82.93 at 1320 GMT on 13 August.
Shares in Bayer, the German pharmaceutical firm, fell by up to 14% at a cost of $14bn, after Monsanto, which was acquired by Bayer in June of this year, was ordered to pay $289m in damages to a groundskeeper with terminal cancer. The case is the first in possibly thousands of lawsuits in the US concerning alleged links between Monsanto’s Roundup weedkiller and cancer. Monsanto plans to appeal the verdict. Bayer shares fell by 11.2% to €82.93 at 1320 GMT on 13 August.