Log in
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 

MarketScreener Homepage  >  Equities  >  Xetra  >  Bayer AG    BAYN   DE000BAY0017


SummaryAll NewsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Bayer : settles thousands of U.S. Roundup cases with trial attorneys

share with twitter share with LinkedIn share with facebook
09/15/2020 | 01:34pm EDT
FILE PHOTO: The historic headquarters of German pharmaceutical and chemical maker Bayer AG is pictured in Leverkusen

Bayer AG has settled thousands of U.S. Roundup weed killer lawsuits as part of an $11 billion settlement, reaching deals with the only lawyers who took cases to trial over allegations the herbicide caused cancer.

In letters filed with U.S. District Court in San Francisco late on Monday, three lawyers said they had reached binding settlements.

The agreements covered 15,000 lawsuits, according to attorneys familiar with the talks, bringing the resolved cases to about 45,000. Bayer has estimated it faces 125,000 filed and unfiled claims over Roundup.

"We indicated last week that we were accelerating efforts to finalize and implement current settlements and our progress is consistent with our commitment to pursue a holistic settlement to the Roundup litigation," Bayer said in a statement.

The letters from Brent Wisner, Jennifer Moore and Aimee Wagstaff, who took cases to trial, did not disclose settlement terms.

"I cannot speak to Monsanto/Bayer's plans, but with trial counsel out of the way, I think they are in an excellent position to find a way to resolve the remaining claims quickly," said Wisner.

Shares of Bayer closed up 2.7% at 56.82 euros on Tuesday.

In August, Bayer's stock fell 3% after it said there were "bumps" in talks to seal the $11 billion settlement of the Roundup cases and the judge overseeing the case, Vince Chhabria, threatened to restart the litigation.

Bayer in June struck an agreement on about 75% of the 125,000 claims stemming from its $63 billion takeover of seed and chemical company Monsanto in 2018.

Chhabria raised concerns in July over the plan to create an independent panel of scientists to assess whether glyphosate-based weed killers such as Roundup caused cancer, delaying a key part of the proposed settlement.

The parties are expected to discuss next steps at a Sept. 24 hearing.

By Tom Hals

share with twitter share with LinkedIn share with facebook
All news about BAYER AG
09/24BAYER : resolves more Roundup cases, judge keeps pause on litigation
09/24BAYER : resolves more Roundup cases, judge keeps pause on litigation
09/21BAYER : opens application window for Grants4Ag
09/18GLOBAL MARKETS LIVE : Tiktok, CaixaBank, Moderna…
09/18Covestro denies it is in takeover talks with Apollo
09/17EXCLUSIVE : In the weeds - How Bayer, U.S. government teamed up against Thailand..
09/17IN THE WEEDS : How Bayer, U.S. govt teamed up against Thailand's glyphosate ban
09/17BAYER : New data reinforce strong clinical profile of Vitrakvi™ for patien..
09/15BAYER : settles thousands of U.S. Roundup cases with trial attorneys
09/15Bayer settles thousands of U.S. Roundup cases with trial attorneys
More news
Sales 2020 43 305 M 50 377 M 50 377 M
Net income 2020 -2 690 M -3 129 M -3 129 M
Net Debt 2020 32 651 M 37 983 M 37 983 M
P/E ratio 2020 -15,9x
Yield 2020 5,31%
Capitalization 52 530 M 61 032 M 61 108 M
EV / Sales 2020 1,97x
EV / Sales 2021 1,89x
Nbr of Employees 101 168
Free-Float 100,0%
Duration : Period :
Bayer AG Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends BAYER AG
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 27
Average target price 78,72 €
Last Close Price 53,47 €
Spread / Highest target 106%
Spread / Average Target 47,2%
Spread / Lowest Target -14,0%
EPS Revisions
Werner Baumann Chairman-Management Board
Norbert Winkeljohann Chairman-Supervisory Board
Wolfgang U. Nickl Chief Financial Officer
Bijoy Sagar Chief Information Technology Officer
Paul Achleitner Member-Supervisory Board
Sector and Competitors
1st jan.Capitalization (M$)
BAYER AG-26.56%61 032
JOHNSON & JOHNSON-0.14%383 497
ROCHE HOLDING AG5.40%304 339
MERCK & CO., INC.-8.82%209 750
PFIZER, INC.-8.73%200 326
NOVARTIS AG-12.61%190 402