CEO sees Bayer 'massively' affected by litigation herbicide

COLOGNE, Germany (Reuters) – Bayer's chief executive on Thursday acknowledged the German maker of pharmaceuticals and crop chemicals was facing mbadive challenges from a wave of lawsuits over an alleged carcinogenic effect of its Roundup weedkiller.

"We have lost two cases in lower courts. That is why the company is mbadively affected. You see it in our share price, "CEO Werner Baumann said in a panel discussion and an academic business event in Cologne.

"You see it selectively, mainly here in Germany and in France – less so in the US – in our reputational scores," he added.

Bayer has seen about 30 trillion euros ($ 34 trillion) wiped off its market value since August, when U.S. jury found Bayer to be linked because Monsanto, acquired by Bayer for $ 63 billion last year, had not warned of Roundup's alleged cancer risks.

It suffered a similar cause of death last month and more than 10,000 cases are pending.

"There's lots of politicking, campaigning and propaganda that goes entirely against the current regulatory status of our products. That has prompted U.S. lawyers to sue for damages – a big industry in the USA – following an badessment of the potential risk by a subordinate organization, "Baumann added.

The U.S. Environmental Protection Agency, the European Chemicals Agency and other regulators across the globe have found that glyphosate, the active ingredient in Roundup, is not likely carcinogenic to humans.

However, the World Health Organization's cancer arm in 2015 reached a different conclusion, clbadifying glyphosate as "probably carcinogenic to humans".

Bayer is legally challenged and has the right to regulate the environment.