Clicky

  • Login
  • Register
  • Submit Your Content
  • Contact Us
Thursday, October 10, 2024
World Tribune
No Result
View All Result
  • Home
  • News
  • Business
  • Technology
  • Sports
  • Health
  • Food
Submit
  • Home
  • News
  • Business
  • Technology
  • Sports
  • Health
  • Food
No Result
View All Result
World Tribune
No Result
View All Result

Bayer shares drop after U.S. court announces review of Monsanto case

October 9, 2024
in News
Reading Time: 3 mins read
A A
Bayer shares drop after U.S. court announces review of Monsanto case
0
SHARES
ShareShareShareShareShare

READ ALSO

OpenAI says more cyber actors using its platform to disrupt elections

Nvidia stock up 25% in a month as stock closes in on new record

Logo and flags of Bayer AG are pictured outside a plant of the German pharmaceutical and chemical maker in Wuppertal, Germany.

Wolfgang Rattay | Reuters

Shares of German life sciences company Bayer fell nearly 7% on Wednesday, after a U.S. court said it would review a case alleging that exposure to products of the company’s Monsanto unit harmed individuals.

The Washington Supreme Court this week accepted a review of litigation against the German company over the impact of polychlorinated biphenyls (PCBs) exposure at the Sky Valley Education Center in Washington state, one of many related cases Bayer is fighting. Previously, an appeals court had overturned a $185 million award in the trial after finding flaws in the case in May, according to Reuters.

Bayer shares were 6.76% lower at 12:45 p.m. London time, putting the stock on course for its worst performance since March and extending a loss of 13% in the year to date. Shares had tumbled more than 30% last year amid challenges including ongoing litigation over the Monsanto unit and high net debt.

The company said in a statement Wednesday that there was “no basis for a different outcome on appeal,” and that it believed the Washington Court of Appeals’ decision had identified three errors in the case, including that testimony for the plaintiffs regarding PCB exposure lacked scientific validity.

Bayer argues the claims relate to industrial materials which Monsanto voluntarily ended manufacture of in 1977.

Bayer acquired U.S. agrichemical-maker Monsanto in 2018.

The deal has led to the company fighting myriad legal challenges in various U.S. courts over alleged negative health effects, including cancer, from exposure to Monsanto products including Roundup weed killer.

According to Reuters, around 125,000 charges have been brought against the product in the U.S., more than half of which had been resolved following a $10.9 billion settlement in 2020.

In September, the company secured a legal win when the 3rd U.S. Circuit Court of Appeals in Philadelphia found in its favor in a claim that Monsanto violated state law by failing to add a cancer warning to the Roundup label.

Stock Chart IconStock chart icon

Bayer shares drop after U.S. court announces review of Monsanto case

Bayer share price.

Credit: Source link

ShareTweetSendSharePin
Previous Post

Apple’s 9th-gen iPad returns to an all-time low of $199 for Prime Day

Next Post

VanEck launches new $30 million fund to invest in Crypto, AI and FinTech

Related Posts

OpenAI says more cyber actors using its platform to disrupt elections
News

OpenAI says more cyber actors using its platform to disrupt elections

October 10, 2024
Nvidia stock up 25% in a month as stock closes in on new record
News

Nvidia stock up 25% in a month as stock closes in on new record

October 9, 2024
How to invest in bonds amid falling interest rates
News

How to invest in bonds amid falling interest rates

October 9, 2024
HSBC exec says there’s a lot of AI ‘success theater’ in finance
News

HSBC exec says there’s a lot of AI ‘success theater’ in finance

October 9, 2024
China’s Golden Week holiday signals persistent consumer caution
News

China’s Golden Week holiday signals persistent consumer caution

October 9, 2024
Elon Musk’s X back online in Brazil after receiving court clearance
News

Elon Musk’s X back online in Brazil after receiving court clearance

October 9, 2024
Next Post
VanEck launches new  million fund to invest in Crypto, AI and FinTech

VanEck launches new $30 million fund to invest in Crypto, AI and FinTech

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

What's New Here!

Obesity drugmaker BioAge targets 8 million in IPO

Obesity drugmaker BioAge targets $158 million in IPO

September 19, 2024
Hollowbody fills the void left by PS2 survival horror games

Hollowbody fills the void left by PS2 survival horror games

September 13, 2024
US airlines will owe you money for delays under new proposa

US airlines will owe you money for delays under new proposa

September 11, 2024
Jose Quintana ‘excited’ to get Game 3 start for Mets

Jose Quintana ‘excited’ to get Game 3 start for Mets

October 3, 2024
Lawsuit accuses YouTube of harming youth mental health

Lawsuit accuses YouTube of harming youth mental health

October 1, 2024
Harrison.ai introduces radiology genAI and more AI briefs

Harrison.ai introduces radiology genAI and more AI briefs

September 23, 2024
Paul Rabil, the ‘LeBron of lacrosse’, shares his leadership mindset playbook

Paul Rabil, the ‘LeBron of lacrosse’, shares his leadership mindset playbook

September 16, 2024

About

World Tribune is an online news portal that shares the latest news on world, business, health, tech, sports, and related topics.

Follow us

Recent Posts

  • Solar storm could bring rare northern lights to southern US
  • You can still get up to 68 percent off Echo speakers, Fire TV Sticks and Blink cameras and more
  • From Recruitment to Retention: Tackling Workforce Issues in Food Manufacturing
  • Snag $1K bet insurance or $200 in bonus bets for Yankees-Royals, all sports

Newslatter

Loading
  • Submit Your Content
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2024 World Tribune - All Rights Reserved!

No Result
View All Result
  • Home
  • News
  • Business
  • Technology
  • Sports
  • Health
  • Food

© 2024 World Tribune - All Rights Reserved!

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In