class="post-template-default single single-post postid-328965 single-format-standard group-blog masthead-fixed full-width singular wpb-js-composer js-comp-ver-5.5.2 vc_responsive"
Bayer Takes Market Hit from Glyphosate Ruling | KRVN Radio

Bayer Takes Market Hit from Glyphosate Ruling

The first day of trading following a jury ruling against Monsanto pushed shares of Bayer down 12 percent.

Monsanto, recently acquired by Bayer, was ordered to pay $289 million as part of a lawsuit alleging glyphosate causes cancer. While Bayer says the verdict is “at odds with the weight of scientific evidence,” the ruling by a California Jury claimed glyphosate, found in Monsanto’s Roundup, presented a “substantial danger” to consumers, and that the company knew, or should have known, the potential risks they posed.

A market analyst told the Wall Street Journal the ruling will likely “create a litigious headache for Bayer,” as the lawsuit is one of roughly 4,000 filed and sets a precedent.

Monsanto will appeal the ruling, and in a statement, noted that more than 800 scientific studies, along with health and regulatory authorities around the world “support the fact that glyphosate does not cause cancer.”

© 2018 Nebraska Rural Radio Association. All rights reserved. Republishing, rebroadcasting, rewriting, redistributing prohibited. Copyright Information
Share:
Comments