Bayer Stock Up as Government Backs Supreme Court Review in Roundup Case
Shares of Bayer BAYRY gained 12.1% after the Solicitor General supported a Supreme Court review of its Roundup weedkiller case in the United States.
Bayer believes that the backing of the government in the United States will be important to the court’s consideration of its petition.
Bayer acquired Roundup weedkiller through Monsanto’s buyout in 2018. However, several lawsuits have been filed by people for the same, alleging that Monsanto’s herbicide caused them to develop cancers. Glyphosate is the active ingredient in Roundup weedkiller.
It has also been alleged that people were not made aware of the cancer risks by either Monsanto or Bayer. Consequently, Bayer has incurred significant litigation costs due to these…
