Bayer shares: Bayer must pay a $1 billion fine in the USA over a news report | 01/28/24

US juries have awarded $2.2 billion to the agrochemical and pharmaceutical company Bayer to pay the highest damages yet in trials involving herbicides containing glyphosate.

The plaintiff in Philadelphia, who had cancer, used Roundup as landscaping and also privately. Bayer wants to appeal. A spokesman on Saturday criticized the ruling, which contradicts scientific findings and authorities' assessments.

The amount of approximately $2.2 billion (€2 billion) consists of two parts. The jury awarded the man $250 million in damages and $2 billion in damages, Bloomberg Financial reported from the courtroom on Friday.

“We are convinced that we have strong arguments on appeal to overturn this ruling or at least reduce the unconstitutional excessive damages,” Bayer’s statement said. Even in cases that have been lost so far, total damages have been reduced by more than 90 percent. Bayer notes that the company has won in court in 10 of the most recent 16 cases.

Bayer brought the problems surrounding the weedkiller Roundup, which contains glyphosate, into its own company in 2018 with its $60 billion acquisition of US firm Monsanto. In the same year, the first ruling was issued against DAX (DAX 40). This sparked a wave of lawsuits in the United States. In 2020, Bayer launched a $1 billion program to settle the majority of lawsuits without admitting liability. The majority of complaints have already been addressed. Bayer confirms that it remains convinced of the safety of glyphosate.

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Philadelphia (dpa-AFX)