Shares in Germany's Bayer plunge on US weed killer ruling

Posted on Wednesday, March 20th, 2019 By The Associated Press

French activists of Attac spray-paint the Paris headquarters of Bayer AG to protest its production of environment-damaging pesticides in la Garenne Colombes, suburb of Paris, Thursday, March 14, 2019. Germany-based Bayer is also under fire from environmental activists in Europe and the U.S. for production of weed killer Roundup by its subsidiary Monsanto. Roundup's key ingredient glyphosate has been blamed for health problems including cancer. (AP Photo/Francois Mori)

BERLIN (AP) — Shares in Germany's Bayer have plunged after a U.S. jury found the Roundup weed killer was a substantial factor in a California man's cancer — the second case that has gone against manufacturer Monsanto, acquired by Bayer last year.

Bayer AG shares dropped 13 percent to 60.66 euros ($68.84) in Frankfurt Wednesday. On Tuesday, a federal court jury in San Francisco ruled unanimously in a lawsuit against Monsanto. Attorneys say the trial, which will determine in a second phase whether the company is liable and if so, for how much, could help determine the fate of hundreds of similar lawsuits.

Monsanto says studies have established that Roundup's active ingredient, glyphosate, is safe. It has appealed a separate U.S. court decision last year in favor of a man who used Roundup.

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