Bayer Shares Plunge After Monsanto Loses First of Many Cancer Trials

15 Agosto, 2018, 12:22 | Author: Arnold Perez
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Responding to the court judgement, a company spokesperson expressed sympathy for Johnson and his family but added, "We will appeal this decision and continue to vigorously defend this product, which has a 40-year history of safe use and continues to be a vital, effective, and safe tool for farmers and others".

Having closed the Monsanto takeover, Bayer is only awaiting the approval of some final antitrust-related asset sales before folding it into its own organisation.

Analyst Michael Leacock of the European financial services firm MainFirst said the uncertainties surrounding further claims against Monsanto were likely to have a long-term impact on Bayer's shares.

Since Roundup is ubiquitous in modern farming, there's a "huge potential liability", though it's very uncertain it will materialise, he said.

The verdict surprised Bayer investors and may stir up memories of the scandal over cholesterol-lowering pill Lipobay, said Markus Mayer, an analyst with Baader Bank. It has been repeatedly linked to cancer by groups including the cancer-research arm of the World Health Organization (though Monsanto and various other groups dispute the findings).

Sales of Monsanto's RoundUp weedkiller reviewed in United Kingdom after U.S. ruling on cancer link Some of the UK's top DIY chains have put the popular weedkiller RoundUp under a safety review, after a landmark ruling in the USA saw a man with terminal cancer successfully sue its manufacturer Monsanto.

Monsanto's vice-president, Scott Partridge, has also insisted that Roundup is safe, and the company intends to appeal against the decision.

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Johnson's lawyers argued that his exposure, including accidents that soaked him from head to toe in Roundup, caused his non-Hodgkin's lymphoma.

During trial, Johnson told the court he took every precaution to protect himself, even calling the company after he began to develop rashes from regularly using Roundup, which has been on the market now for more than four decades.

"That is a choice that shows their reckless disregard for human health, and today is their day of reckoning".

Previous year alone, 800 cases were made against Monsanto claiming that Roundup gave them cancer.

"We don't know why people get mycosis fungoides", he said, using the name of the specific form of cancer Mr Johnson has.

"Despite the Environmental Protection Agency's failure to require labeling, we are proud that an independent jury followed the evidence and used its voice to send a message to Monsanto that its years of deception regarding Roundup is over and that they should put consumer safety first over profits", Wisner said in a statement after the verdict.


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