A California Judge reduced the more than $200 million award to less than $40 million in a case against Bayer AG’s Roundup herbicide, formally of Monsanto. Dow Jones reports a San Francisco Superior Court Judge said the $250 million in punitive damages awarded by the jury must be slimmed down to match the $39.25 million in compensatory damages that the …
Bayer Files Appeal to California Glyphosate Ruling
Bayer is increasing efforts to defend Roundup, its flagship weed killer. A Dow Jones report says the effort follows a recent verdict in a California court case alleging that the chemical causes cancer sent shares sharply lower. According to the company’s court filing, Bayer wants a California judge to overturn the jury verdict, order a new trial, or reduce the …
Glyphosate Lawsuits Numbers Climbing
Bayer AG says the number of lawsuits against glyphosate is rising, adding to concerns about potentially lengthy and costly litigation. Bayer, which recently completed its acquisition of Monsanto, lowered its full-year earnings outlook stemming from delays in closing the deal. Bayer is now integrating the maker of Roundup, which contains glyphosate, into its company. The California lawsuit which set a …
8,000 Glyphosate Lawsuits Await Bayer
The California verdict against Monsanto has opened the door for what is estimated as 8,000 lawsuits against Monsanto, now being absorbed by Bayer. On a call with analysts and reporters, Bayer CEO Werner Baumann said the number of plaintiffs in both state and federal litigation was approximately 8,000 as of the end of July. Bayer acquired Monsanto in June and …
Bayer/Monsanto Merger Clears All Hurdles
It has taken months of divesting, negotiating and waiting, but Bayer and Monsanto will complete their merger. An agweb.com article notes German-based Bayer can now officially begin integrating Monsanto after Bayer divested itself of certain Crop Science businesses in a sale to BASF. The name Monsanto is expected to officially disappear in the future. However, familiar brand names like Dekalb, …
BASF Closes Acquisition of Bayer’s Vegetable Seeds Business
BASF announced this week it has closed the acquisition of Bayer’s global vegetable seeds business. The transaction, BASF says in a news release, “adds a well-recognized brand with a very successful business track record to BASF’s portfolio.” The acquired vegetable seeds business comprises 24 crops and about 2,600 varieties. It also includes a research and development operation, and breeding systems …
Bayer Takes Market Hit from Glyphosate Ruling
The first day of trading following a jury ruling against Monsanto pushed shares of Bayer down 12 percent. Monsanto, recently acquired by Bayer, was ordered to pay $289 million as part of a lawsuit alleging glyphosate causes cancer. While Bayer says the verdict is “at odds with the weight of scientific evidence,” the ruling by a California Jury claimed glyphosate, …
BASF Closes Acquisition of Businesses and Assets from Bayer
BASF has closed the acquisition of a range of businesses and assets from Bayer. The transaction, the company says, is a “strategic complement” to BASF’s crop protection, biotech and digital farming activities and marks its entry into seeds, non-selective herbicides and nematicide seed treatments. A spokesperson for BASF says the move “adds excellent assets” to the BASF portfolio. BASF signed …
First Monsanto Cancer Trial Begins
A trial is underway this week in California as witnesses will begin to testify in the first case alleging that Monsanto’s Roundup weed killer causes cancer. Politico says Lee Johnson, a groundskeeper for a California school district, alleges that years of spraying hundreds of gallons of the product caused him to develop non-Hodgkin’s lymphoma, a form of cancer. Opening statements …
Bayer Closes Monsanto Acquisition
It was announced in a release that Bayer had successfully completed the acquisition of Monsanto, but no branding changes will take place just yet. Monsanto will operate independently from Bayer for an interim period while Bayer completes the sale of some of its businesses to BASF. According to the conditional approval from the U.S. Department of Justice, the integration of Monsanto …