Company has angered some shareholders with its plan to put breakup on hold while focusing on internal restructuring
FRANKFURT, Germany (Reuters) — Major Bayer shareholder Harris Associates has come out in strong support of the drug maker’s decision to suspend work on breaking up the diversified group, giving breathing room to its embattled chief executive officer. The endorsement takes some pressure off CEO Bill Anderson, who had earlier said he will pause for […] Read moreTag Archives Bayer — page 3
Bayer postpones breakup amidst financial woes
Company says it needs time to reduce debt, deal with legal challenges, pursue more job cuts and improve decision making
FRANKFURT, Germany (Reuters) — Bayer will hold off on plans to break apart the group for up to three years so that the new chief executive officer can focus on problems including debt and litigation. The move leaves investors dubious about whether enough is being done to revive the company’s fortunes. “Our answer is ‘not […] Read more
U.S. court cancels dicamba approval
CHICAGO, Ill. (Reuters) — A U.S. court has nullified the government’s latest approvals of certain agricultural herbicides sold by Bayer, BASF and Syngenta, fueling uncertainty among farmers who spray the products on soybeans and cotton genetically modified to resist them. Environmental activists cheered the court for halting use of the dicamba-based herbicides, which are known […] Read more
U.S. court blocks glyphosate labels
REUTERS — A divided federal appeals court said California cannot require businesses to warn consumers about the potential dangers of glyphosate, an ingredient in Roundup that has been linked to cancer. Upholding a permanent injunction, the ninth United States Circuit Court of Appeals in San Francisco found it unconstitutional to force Bayer’s Monsanto unit, which […] Read more
Bayer will consider breakup
Speaking to reporters at Bayer’s headquarters in Leverkusen, incoming CEO Bill Anderson offered clues as to his vision for the company, stressing a focus on results and advancing science, while keeping open the question of a breakup.
Bayer appeals Roundup ruling
(Reuters) — Bayer has asked California’s Supreme Court to review a decision awarding US$20.5 million to a groundskeeper who claimed the company’s Roundup herbicide caused his cancer, arguing the ruling was at odds with federal law and settled legal principles. Bayer, which acquired Roundup with its purchase of Monsanto for $63 billion in 2018, said […] Read more
Bayer glyphosate deal doesn’t apply to Canada
Bayer is committing more than US $10 billion to resolve U.S. lawsuits connected to Roundup, the company announced today. But the agreements, between Bayer and numerous law firms in America, don’t apply to potential class action lawsuits in Canada, said Tony Merchant, founder of Merchant Law Group. “We don’t really know, right now, where this […] Read more
Bayer agrees to pay to settle Roundup lawsuits
FRANKFURT/NEW YORK (Reuters) – Bayer AG, after more than a year of talks, agreed to pay as much as $10.9 billion (USD) to settle close to 100,000 U.S. lawsuits claiming that its widely-used weedkiller Roundup caused cancer, resolving litigation that has pummeled the company’s share price. The German drugs and pesticides maker has come to […] Read more
U.S. court blocks dicamba; says EPA understated risks
(Reuters) — Bayer has been blocked from selling its dicamba-based herbicide in the United States, the latest setback for a business that is already fighting an expensive legal battle over another of its products. A three-judge panel ruled that the U.S. Environmental Protection Agency substantially understated the risks related to the use of dicamba, which […] Read more
Bayer cools prospect of imminent glyphosate settlement
LEVERKUSEN, Germany, (Reuters) – German drugs and pesticides company Bayer was at pains to quell expectations last week that it was nearing an out-of-court settlement laying to rest claims its glyphosate-based weedkillers cause cancer. Bayer said after publishing its earnings outlook for 2020 it was in no rush to reach terms with plaintiffs’ lawyers and […] Read more
