Bayer Faces $3.5M Verdict in Fifth Consecutive Roundup Weedkiller Loss

Author: Vandana Singh | December 06, 2023 01:49pm

Bayer AG (OTC: BAYRY) (OTC: BAYZF) encountered another setback in its ongoing legal battles related to its Roundup weedkiller after a Philadelphia jury ordered the company to pay nearly $3.5 million. 

The latest verdict, while marking the fifth consecutive loss for Bayer, is notably smaller than previous rulings, totaling over $2 billion, in similar lawsuits against the German conglomerate.

The Philadelphia Court of Common Pleas issued the verdict following a three-week trial and two days of jury deliberations. The awarded sum consists of $462,500 in compensatory damages and $3 million in punitive damages. 

However, Bayer plans to contest the decision, expressing disagreement with the divided jury's verdict and the awarded damages.

Also Read: Bayer's Blood Thinner Study Stopped Early Due To Lack Of Efficacy: Details.

Bayer reaffirmed its stance, citing substantial scientific evidence and global regulatory assessments supporting the safety of Roundup's active ingredient, glyphosate. 

Despite the company's confidence in its position, the ongoing litigation continues to impact its financial standing and investor confidence, Reuters noted.

Previously, Bayer faced larger verdicts, including a $1.56 billion award in November, prompting investor concerns and pressures for the company to resolve the litigation swiftly. 

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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