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Bayer suffered a new fall in the market before the new court ruling due to the accusations received that the Roundup herbicide, inherited when buying the Monsanto firm, causes cancer.
The firm lost nearly $ 8 billion in market value in one of several court problems Bayer inherited when it bought Monsanto. On this occasion, the shares fell 9.6% and generally almost 30% since it absorbed Monsanto in June 2018 for a value of $ 63 million.
"We are disappointed with the initial decision of the jury, but we continue to firmly believe that the science confirms that glyphosate-based herbicides do not cause cancer," the company denies in a statement. "We are confident that the evidence in phase two will demonstrate that Monsanto's conduct was appropriate and that the company should not be held responsible for Mr. Hardeman's cancer."
Edwin Hardeman fumigated with Roundup for nearly three decades before he was diagnosed with a cancer that affects his immune system. He has used the chemical to control weeds and poison oak on his properties since 1986.
This lawsuit is just one of 11,200 lawsuits against Roundup in the United States. A similar case recently occurred in California that awarded Dewayne Johnson $ 289 million after a state court jury found that Roundup caused her cancer.
Bayer "has the upper hand to lose a good part of the 11,200 pending cases in the US," a Bloomberg Intelligence legal analyst said in a report. "Without a prior settlement, many cases involving the Roundup herbicide could go to trial." The cost of settling all litigation is estimated to be more than $ 5 billion.
The second stage of the trial
Hardeman's lawyers will present evidence in the second stage of the trial on the company's "misconduct", which allegedly demonstrates Bayer-Monsanto's manipulation of scientists, government regulators and the general public about the safety of its chemicals.
Bayer denies allegations that Roundup, or glyphosate, causes cancer. It ensures that decades of studies and regulatory evaluations, primarily of real-world human exposure data, have shown that the herbicide is safe for human use.
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