Bayer's Stock Drops 7.4% After $21 Billion Roundup Verdict

Bayer's stock price experienced a significant decline of 7.4% following a U.S. court order mandating the company to pay $21 billion in damages related to its Roundup weed killer. The ruling, issued by a jury in Cobb County, Georgia, has sparked a strong response from Bayer, which has announced its intention to appeal the decision.

The company has consistently maintained that the verdict is at odds with overwhelming scientific evidence and global regulatory assessments, which support the safety of its product. Bayer's statement emphasized its disagreement with the jury's decision, citing the contradiction with scientific consensus and regulatory evaluations. The company expressed confidence in its ability to overturn the verdict or reduce the damages during the appeals process.

This is not the first legal challenge Bayer has faced regarding Roundup. The company has previously settled numerous lawsuits related to the weed killer, agreeing to pay $10.9 billion in total settlements. Additionally, Bayer has been ordered to pay substantial damages in individual cases, further adding to the financial burden. The latest verdict highlights the ongoing legal and financial challenges Bayer faces as it continues to defend its product in court.

The controversy surrounding Roundup stems from allegations that the weed killer is linked to various health issues, including cancer. Thousands of lawsuits have been filed against Bayer, claiming that the product has caused significant harm to users. The company's legal battles are far from over, as it continues to face new lawsuits and appeals related to Roundup.