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Bayer shares fall to $ 289 million from Monsanto verdict
FBN's Ashley Webster Regarding Bayer Stocks, According to the California Jury Announcement, Ordering Monsanto's Newly Acquired Unit to Pay $ 289 Million for Not Notifying Roundup-related Cancer Risks weed killer of the company.
Bayer AG is expected to face a second US jury for allegations that its famous Roundup, a glyphosate herbicide, is believed to cause cancer, six months after its share price was rocked by a 289-million-dollar verdict. dollars in court in the state of California.
A lawsuit filed by Edwin Hardeman, a California resident, against the company was due to start Monday in federal court rather than state court. The trial is also a test case for a larger litigation. More than 760 of the country's 9,300 Roundup cases are gathered in the San Francisco Federal Court, which hears Mr. Hardeman's case.
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Bayer denies any allegations that Roundup or glyphosate could cause cancer, claiming that decades of independent studies had shown that the world's most widely used weed killer was safe for humans and noted that regulators around the world had approved the product.
According to a January ruling by US District Judge Vince Chhabria, who presides over the federal litigation, the Hardeman jury will not initially hear all the evidence presented at the California trial. 39, last year.
Chhabria called the plaintiffs' evidence that the company allegedly attempted to influence the regulators and manipulate public opinion "as a distraction" of science in these cases. He added that such evidence should only be presented to the jury in a second phase of the trial, which would only take place if they determined Hardeman's cancer.
Evidence of professional misconduct was considered to play a key role in finding a California state court jury in August that Roundup was originally Another man's non-Hodgkin's lymphoma and the Bayer unit in Monsanto had not warned consumers of the risks of weed killer cancer. The $ 289 million damages award from this jury was later reduced to $ 78 million.
Bayer's share price fell 10% as a result of the verdict and remained volatile.
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Hardeman began using the Roundup brand herbicide with glyphosate in the 1980s to control poison oak and weeds on his property and sprayed "large quantities" of the chemical for many years, according to court documents. He was diagnosed with non-Hodgkin's lymphoma, a cancer of the lymphatic system, in February 2015 and filed a lawsuit a year later.
But Hardeman has a history of hepatitis C, a risk factor for developing lymphoma. Bayer also stated that the majority of non-Hodgkin's lymphoma incidents were idiopathic or had no known cause.
The plaintiffs criticized Chhabria's order dividing the lawsuit and narrowing the evidence as "unfair", claiming that their scientific evidence showing that glyphosate was at the origin of cancer was inextricably linked to the alleged unlawful conduct of Monsanto.
(Report by Tina Bellon in New York, edited by Cynthia Osterman and Jonathan Oatis)
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