Bayer stock jumps after US Supreme Court sides with Roundup weedkiller maker
The US Supreme Court issued a ruling that limits cancer lawsuits over Monsanto's Roundup weedkiller, owned by Bayer. The decision eases the company's legal exposure, and Bayer shares jumped in trading.
The US Supreme Court handed down a ruling that narrows the scope of cancer lawsuits brought against Bayer's Monsanto unit over Roundup. According to MarketWatch, the decision backed the company's argument that federal regulation can pre-empt certain state-level claims for damages.
Bayer has faced tens of thousands of lawsuits since acquiring Monsanto in 2018, a burden that has clouded its balance sheet for years. The company maintains that the glyphosate-based product is safe. The ruling carries the potential to limit the flow of future litigation.
Bayer shares rose in trading after the news. Investors weighed the prospect that the decision could reduce a long-running legal risk for the pharmaceutical and agricultural-chemicals group. Company executives are continuing to seek a final resolution to the remaining cases.
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