Bayer AG (OTC: BAYRY) won five jury verdicts in a row in trials that contended its Roundup weed killer caused non-Hodgkin lymphoma.
The company battles the remaining cases targeting its Roundup weedkiller. It has set aside about $16 billion for settlements.
Bayer maintains that Roundup is safe to use and has cited regulatory reviews by the U.S. Environmental Protection Agency and other regulators that have determined it is not carcinogenic, Wall Street Journal reported.
Bayer lost three trials between 2018 and 2019 brought by Roundup users who said the product caused their cancer and that the company had failed to adequately warn about Roundup’s danger.
In a recent interview, Bayer CEO Werner Baumann said that the company’s wins this past year at trials across various jurisdictions shifted momentum in Bayer’s favor.
The report noted Bayer has resolved around 108,000 of 141,000 total Roundup claims. Legal analysts said the company’s recent trial wins give Bayer a stronger position as it tries to resolve the remaining cases.
One of the experts who testified commented that about 96% of the mutations found in non-Hodgkin lymphoma are attributable to naturally occurring random replication errors, bolstering its argument that Roundup isn’t responsible for cancer.
Price Action: BAYRY shares closed higher by 3.28% at $12.15 on Tuesday.
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