Bayer has achieved another important success in the ongoing legal disputes over the alleged cancer risks of its glyphosate-based weed killers. A jury in Philadelphia ruled in favor of the German agrochemical and pharmaceutical company, as the company announced on Wednesday night. Bayer has thus won 14 of the last 20 cases.
The stock of the DAX corporation initially showed stability following the positive news and temporarily gained in XETRA trading. However, it closed with a slight decline of 0.81 percent at 26.79 euros.
The ongoing wave of lawsuits over glyphosate has already cost Bayer billions. Now the company is hoping for a landmark decision from the U.S. Supreme Court.
Recently, various U.S. appellate courts have issued differing rulings on whether federal regulations on warning labels take precedence over those of individual states. If the Supreme Court takes up the case and rules in favor of Bayer, the company could permanently close the chapter on glyphosate.