Bayer stocks rise after US govt. aid in Roundup case

Monday, 23. December 2019 10:33

German pharmaceutical company Bayer AG's shares reached on Monday their highest level since October 2018, after the statements of the US Environmental Protection Agency (EPA) and the Justice Department (DOJ) that the sentence regarding finding the company guilty for causing cancer should be reversed.

About the Roundup lawsuit by a man who blamed Bayer's unit Monsanto for his cancer, the US Government stated that "it is unlawful for manufacturers and sellers to make claims on their labels that differ from what EPA approves", as earlier this year EPA found glyphosate does not cause cancer. Bayer also refuted claims that its weed killer Roundup causes cancer.

Bayer shares traded 2.80% higher, or €73.50 per share at 10:33 am CET.

Related Links: Bayer AG
Author:
Breaking the News / ND