Bayer jumps on Roundup settlement reports

Friday, 24. January 2020 10:21

One of the largest pharmaceutical companies in the world Bayer AG's shares jumped over 3% on Friday following reports that the company will make an out-of-court settlement with the victims of its weed killer Roundup, which could cost the German firm between $8 and $12 billion.

However, Bayer spokesman Chris Loder didn't confirm the reports, but instead stated that "the mediation process is continuing diligently and in good faith to explore resolution under the auspices of Ken Feinberg," adding that "there is no certainty or timetable for a comprehensive resolution."

Bayer stocks traded 3.14% higher, going for €76.43 per share at 10:12 am CET.

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Breaking the News / ND