2024-02-03 18:55:38
The actions of chemical and pharmaceutical group German Bayer fell this Monday, January 29, a 5.63% at 3:10 p.m.until the 30,50 eurosafter the company has been ordered to pay 2,079 million euros to a former user of the herbicide Roundup, who alleged that this compound caused cancer.
The verdict issued by a Pennsylvania court represents the highest compensation awarded so far for the use of this chemical. It was produced by Monsanto – which was the largest transgenic seed product – but now it concerns Bayer since the German company It acquired it in 2018 for 58,213 million euros.
According to the ruling, the affected person has been assigned 231 million euros as compensationwhile the 1,848 million euros remaining correspond to punitive damages for Bayer.
Although Bayer has won 10 of the 16 open lawsuits surrounding Roundup, one of the lost lawsuits was settled in November 2023 with a compensation of 1,386 million euros for three Roundup users in Missouri. Another trial is still pending in Delaware next month.
Bayer will appeal the ruling
For its part, Bayer has assured that the sentences “contradict the enormous weight of scientific evidence“and that the product is safe. In addition, he stressed that he has “weighty arguments” to appeal, annul the ruling and see the compensation reduced or eliminated.
However, the American bank Morgan Stanley has indicated that Bayer it might have to review its dividend policy to have access to cash. “Recent courtroom losses could lead management to favor a stricter dividend policy, from reduction of the distribution band to a possible suspension,” warned the Morgan Stanley market analyst, Thibault Boutherinin statements reported by ‘Bloomberg’.
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