The shares of the pharmaceutical and agricultural chemical company Bayer continued their attempt to bottom out on Monday with an increase of 1.4 percent to 20.29 euros.
According to a company statement, there had previously been a mistrial in a case involving alleged cancer risks of weed killers containing glyphosate in the US state of Illinois. Accordingly, the plaintiff had requested a “mistrial”. However, this does little to change the difficult overall situation for Bayer.
Despite the price increase at the start of the week, Bayer shares remain the biggest loser in the German leading index DAX in 2024 with a loss of around 40 percent. In addition to weak agricultural business and uncertainty regarding US approvals for the weed killer dicamba for the 2025 sowing season, the glyphosate issue remains a burden.
The glyphosate disputes have been like a millstone for the share price since the takeover of the US agricultural chemical company Monsanto in 2018. Shortly after completing the acquisition, Bayer received its first court judgment against itself. This was followed by a wave of lawsuits in the USA that have already consumed billions of euros and are still not over. Bayer continues to hope for a landmark ruling from the highest US court, the Supreme Court. However, it is unclear whether the judges will even take up the matter.
Bayer is currently worth around 20 billion euros on the stock market. Before the first negative glyphosate ruling in the summer of 2018, it was almost 92 billion./mis/ck/stk
FRANKFURT (dpa-AFX)
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