Bayer CEO says his team retains support for the Supervisory Board – report



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FRANKFURT (Reuters) – Bayer's management retains support from its supervisory board, said its chief executive, after pressure on the company has increased when a second jury in the US has decided that his cancer, a Roundup killer with glyphosate, had caused cancer.

Bayer, which denies the claims that glyphosate or Roundup is the cause of cancer, bought Roundup's maker Monsanto last year for $ 63 billion.

His shares have fallen by a third in the last 12 months, weighed down by thousands of lawsuits for an alleged link with cancer with Roundup.

"Glyphosate-related lawsuits in America have a significant impact on the price of the stock," said General Manager Werner Baumann at Frankfurter Allgemeine Sonntagszeitung (FAS).

"The board of directors has the full support of the supervisory board," said Baumann, managing director of Bayer for almost three years.

A US jury concluded last week that Roundup had caused cancer, a heavy blow to the company eight months after another jury had handed down a verdict of $ 289 million on similar claims in a different case. This amount was subsequently reduced to $ 78 million and is being appealed.

Baumann defended Bayer's decision to acquire Monsanto, saying that "it was and that it's a good idea," according to the FAS interview.

Asked about a possible dissolution of Bayer, Baumann said his group had a clear strategy based on three divisions: pharmaceuticals, cultural sciences and consumer health.

"We want to strategically develop these three pillars, the three markets are attractive."

There has been talk of a breakup since it emerged in December that the Elliott Activist Fund had taken a stake.

(Report by Christoph Steitz, edited by Keith Weir)

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