Bayer Battered After Suffering "Major Blow" From Second RoundUp Cancer-Trial Loss
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Bayer AG shares are down over 12% in European trading - the biggest drop since 2003 - after a U.S. jury found the RoundUp weed killer was a substantial factor in a California man's cancer. This is the second case that has gone against manufacturer Monsanto, acquired by Bayer last year.
On Tuesday, a federal court jury in San Francisco ruled unanimously in a lawsuit against Monsanto. Attorneys say the trial, which will determine in a second phase whether the company is liable and if so, for how much, could help determine the fate of hundreds of similar lawsuits.
The plaintiff's attorneys said he developed non-Hodgkin lymphoma after 26 years of regularly using Roundup to tackle weeds and poison oak, according to the Wall Street Journal. The active ingredient in Roundup and Ranger Pro is glyphosate, a herbicide.
Hardeman’s case is considered a “bellwether” trial for hundreds of other plaintiffs in the US with similar claims, which means the verdict could affect future litigation and other cancer patients and families. Monsanto, now owned by the German pharmaceutical company Bayer, is facing more than 9,000 similar lawsuits across the US.
The decision strikes another blow to the German pharmaceuticals group. In August, a jury ordered its Monsanto unit to pay $289 million after determining it failed to warn customers of the potential cancer risks of two of its weedkillers, Roundup and Ranger Pro. The verdict was cut to $78.5 million on appeal.
Analysts are broadly negative on the news, BUT appear to be buyers of any dip... and today's a big dip.
Monsanto says studies have established that Roundup's active ingredient, glyphosate, is safe. It has appealed a separate U.S. court decision last year in favor of a man who used Roundup.
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My Take
- Monsanto is a prime example of the ills of capitalism. How it has behaved and exploited the ag business world is disgraceful.
- Bayer must have equally solid (sarc.) morals to have bought them - at any price.
- I suggest that the US courts combine some or all of these cancer cases against Monsanto and pressure a repeal of the suicide gene patent. References,,,
- A law should be passed globally, or in as many countries in the world as possible forbidding anyone from making such modifications to any forms of life.
That stuff has been controversial for decades, I guess they can't say they diddn't see it coming.
Monsanto is a menace to humanity. All the good research that good people do in that company is overshadowed by the ugly greed capitalistic instincts of a few people at the top of that organisation. To even devote any research resources to the development of the terminator gene is an attack on the whole biosphere of this planet!