BRIEF—Bayer ordered to pay $2.25 billion in Roundup damages

German pharma and crop sciences major Bayer saw it shares drop more than 6% to 30.37 euros by early afternoon today, on the news that it has been ordered to pay in damages, the highest amount yet in its ongoing litigation linked to an alleged carcinogenic effect of its Roundup weedkiller.

According to a Reuters report, a jury in a Philadelphia court on Friday ordered Bayer to pay $2.25 billion to a Pennsylvania man who said he developed cancer from exposure to the Roundup weedkiller, based on the chemical glyphosate.

The total amount includes $2 billion in punitive damages, which are likely to be reduced on appeal, Reuters suggested.

In 2020, Bayer settled most of the Roundup cases that were pending at the time for up to $9.6 billion but failed to get court approval for an agreement to prevent future cases. More than 50,000 claims now remain pending.

Bayer’s shares have lost 70% of their value since the company bought Monsanto in 2018, along with Roundup weedkiller, Reuters noted.