Mike Mozart
The rise in Bayer's stock happened after the US Supreme Court said it would hear the company's appeal in the Roundup herbicide case, Bloomberg noted.
The court made its decision on Friday, January 16. Bayer's appeal is about a Missouri jury's 2023 ruling that ordered the company to pay $1.25 million to John Durnell, a cancer patient. Bayer expects the US Supreme Court to make a decision by mid-2026.
More than 67,000 lawsuits have been filed against Bayer, with people claiming that Roundup caused their cancer. Bloomberg estimates that Bayer has already paid over $10 billion in court decisions and has set aside another $6 billion. The herbicide is accused of causing cancer because of its main ingredient, glyphosate.
In 2015, the International Agency for Research on Cancer, which is part of the WHO, said the substance "possibly" causes cancer. Bayer bought Monsanto, the company that makes Roundup, in 2018 for $63 billion, after many lawsuits had already been started against the company.
source: bloomberg.com
The court made its decision on Friday, January 16. Bayer's appeal is about a Missouri jury's 2023 ruling that ordered the company to pay $1.25 million to John Durnell, a cancer patient. Bayer expects the US Supreme Court to make a decision by mid-2026.
More than 67,000 lawsuits have been filed against Bayer, with people claiming that Roundup caused their cancer. Bloomberg estimates that Bayer has already paid over $10 billion in court decisions and has set aside another $6 billion. The herbicide is accused of causing cancer because of its main ingredient, glyphosate.
In 2015, the International Agency for Research on Cancer, which is part of the WHO, said the substance "possibly" causes cancer. Bayer bought Monsanto, the company that makes Roundup, in 2018 for $63 billion, after many lawsuits had already been started against the company.
source: bloomberg.com
