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    BAYN   DE000BAY0017

BAYER AG

(BAYN)
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Couple's $86M reward in Monsanto pesticide case stands

11/17/2021 | 09:37pm EST

SAN FRANCISCO (AP) — California's highest court rejected on Wednesday a challenge by Monsanto Co.'s to $86.2 million in damages to a couple who developed cancer after spraying the company's Roundup weed-killer in their yards for three decades.

The state Supreme Court's denial of review upholds an appeals court's ruling in favor of Alva and Alberta Pilliod.

The First District Court of Appeal in San Francisco found in a 2-1 ruling in August that Monsanto was at fault for knowingly marketing a product whose active ingredient, glyphosate, could be dangerous.

Monsanto’s parent company, Bayer, said it disagreed with the high court's decision.

"We continue to stand strongly behind the safety of Roundup, a position supported by assessments of expert regulators worldwide as well as the overwhelming weight of four decades of extensive science,” the company said in a statement.

Brent Wisner, a lawyer for the Pilliods, told the San Francisco Chronicle the verdict “was based on solid science and unanimous law” and the company should halt its “frivolous appeals.”

Bayer announced over the summer that it would stop selling the current version of Roundup for home and garden use in U.S. stores, starting in 2023.

Bayer said it would replace the herbicide’s main ingredient, glyphosate, with an unspecified active ingredient, subject to federal and state approval, while continuing to sell Roundup with glyphosate for farm use.

Bayer has agreed to pay $10 billion to settle thousands of lawsuits that have already been filed in state and federal courts and has sought, unsuccessfully so far, to resolve future lawsuits with a settlement fund of up to $2 billion, the San Francisco Chronicle reported.

Copyright 2021 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission., source Associated Press News

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Financials
Sales 2021 43 070 M 48 678 M 48 678 M
Net income 2021 459 M 518 M 518 M
Net Debt 2021 37 840 M 42 767 M 42 767 M
P/E ratio 2021 81,9x
Yield 2021 3,97%
Capitalization 50 713 M 57 517 M 57 316 M
EV / Sales 2021 2,06x
EV / Sales 2022 1,94x
Nbr of Employees 99 814
Free-Float -
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Mean consensus OUTPERFORM
Number of Analysts 26
Last Close Price 51,62 €
Average target price 63,84 €
Spread / Average Target 23,7%
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Managers and Directors
Werner Baumann Chairman-Management Board & CEO
Wolfgang U. Nickl Chief Financial Officer
Norbert Winkeljohann Chairman-Supervisory Board
Bijoy Sagar Chief Information Technology Officer
Paul Achleitner Member-Supervisory Board
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