|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||16.55 - 16.73|
|52 Week Range||14.61 - 28.17|
|Beta (3Y Monthly)||1.18|
|PE Ratio (TTM)||9.01|
|Forward Dividend & Yield||0.78 (4.58%)|
|1y Target Est||N/A|
Bayer (BAYN.DE) was up as much as 2.2% on Tuesday a day after a federal district court judge denied the company’s motion for a new trial in the Roundup weed killer case. The case against Roundup, a product of Monsanto—now a part of Bayer—will cost the pharmaceutical company $25.3 million in total damages. This is a reduction from $80 million, of which $75 million was ordered by the jury for punitive damages.
Bayer shares topped the German market Tuesday following a Federal Court ruling in California that slashed the amount of damages the chemicals group will need to pay after a jury found its Roundup weedkiller cause a man to contract non-Hodgkin's lymphoma.
A federal judge on Monday slashed a damages award Bayer AG owed a California man who blamed Roundup weed killer for his cancer, to $25.27 million from $80.27 million, while rejecting the company's bid for a new trial. U.S. District Judge Vince Chhabria in San Francisco said evidence against the former Monsanto Co, which Bayer bought last year, supported the $5.27 million in compensatory damages that a jury awarded Edwin Hardeman. Chhabria nonetheless reduced punitive damages to $20 million from $75 million, saying that while Monsanto "deserves to be punished" the higher award was "constitutionally impermissible" because it was nearly 15 times the compensatory damages award.
U.S. District Judge Vince Chhabria in San Francisco said evidence against the former Monsanto Co, which Bayer bought last year, supported the $5.27 million in compensatory damages that a jury awarded Edwin Hardeman. Chhabria nonetheless reduced punitive damages to $20 million from $75 million, saying that while Monsanto "deserves to be punished" the higher award was "constitutionally impermissible" because it was nearly 15 times the compensatory damages award.
A US federal judge on Monday slashed damages owed by Bayer in a case related to claims that exposure to weed killer Roundup causes cancer. US district judge Vince Chhabria in San Francisco reduced the award to $25.3m from the jury’s original verdict of $80.3m. Mr Chhabria also rejected Bayer’s request for a new trial.
(Bloomberg) -- German Agriculture Minister Julia Kloeckner said glyphosate herbicide probably won’t have enough support to gain re-authorization for use in the European Union after 2022.Germany shouldn’t follow Austria, whose parliament recently voted to ban products containing glyphosate, Kloeckner said in an interview with Der Tagesspiegel, pointing out that the EU’s clearance of the chemical lasts through 2022. German politicians are instead working on plans to find safe alternatives to it, said Kloeckner, a Christian Democrat.Glyphosate is a polarizing topic in Germany. Bayer AG acquired Roundup -- the world’s best-selling weedkiller, whose active ingredient is glyphosate -- in its $63 billion takeover of Monsanto Co. last year. Since then, the German drugs and chemicals giant has lost three trials in the U.S. from people claiming Roundup caused their cancer -- and its shares have plunged almost 40%.EU laws call for companies wishing to maintain approval for glyphosate to submit an application by Dec. 15, three years before the current authorization expires. Agencies in France, Hungary, the Netherlands and Sweden are charged with performing the initial assessment of applications.The International Agency for Research on Cancer, an arm of the World Health Organization headquartered in Lyon, labeled glyphosate a probable carcinogen in 2015, a claim Bayer rejects. The company says that other studies and regulators have shown the chemical is safe.To contact the reporter on this story: Tim Loh in Munich at email@example.comTo contact the editors responsible for this story: Eric Pfanner at firstname.lastname@example.org, James Amott, Cecile GutscherFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
The index endured a turbulent week but gained after the Fed Chair indicated that a rate was likely later this month.
Brazilian cotton producers in the state of Mato Grosso on Thursday sued Bayer AG , seeking to cancel the chemical company's patent protection for its Bollgard II RR Flex genetically modified cotton seed, according to a statement sent to Reuters. The farmers, hoping to regain $151 million in royalty payments, claim the genetically modified seed does not constitute a de facto technological innovation, according to the statement issued by the Mato Grosso Cotton Producers Association (AMPA). The lawsuit also names Brazil's national patents office as a defendant.
Bayer's (BAYRY) Xarelto, in the phase III EINSTEIN-Jr study in pediatric patients, shows a similar low risk of VTE or blood clots compared to current standard anticoagulation therapy.
Investors love the companies that keep pets healthy. Now a merger between two of the five largest players could mean more gains for shareholders.
FRANKFURT/LONDON (Reuters) - Bayer has approached U.S. drug firm Elanco Animal Health to discuss a possible combination of their pet-health businesses to create an industry giant, three sources familiar with the matter told Reuters. The two companies are working with banks to ensure any merger would secure regulatory approval, the sources said, speaking on condition of anonymity. Bayer has delayed the launch of an auction to private equity funds to clinch a bilateral deal with Elanco, the fourth-largest player in the animal health industry globally, the sources said.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Singapore's Temasek Holdings posted the smallest rise in its portfolio in three years as key bank stock holdings declined in value, and the state investor said it was increasingly focusing new investments in North America, Europe and on unlisted firms. "Trade and technology tensions are already disrupting supply chains, business confidence is being tested and capital investments have slowed," Png Chin Yee, a senior managing director at Temasek, told a news conference on Tuesday. Temasek's 1.6% portfolio gain for the year to March 31, 2019 came after a 12% increase a year ago and took its net portfolio value to a record S$313 billion ($230 billion).
(Bloomberg) -- Temasek Holdings Pte may report its first decline in net portfolio value since 2016 as global trade uncertainties and volatile equity markets take their toll.Singapore’s state investor, which had S$308 billion ($226 billion) in assets as of March 2018, will release its 2019 annual report Tuesday. CIMB Private Banking economist Song Seng Wun, who has been covering Temasek for over a decade, predicts the figure may dip to S$300 billion.Investors globally are facing a tough environment as the trade war between China and the U.S. clouds the market outlook and other issues like Brexit dent returns. Singapore’s sovereign wealth fund GIC Pte last week said overhyped valuations in developed markets were also a concern.While a decline in that vicinity would be within the range envisaged by Temasek in its 2018 annual report, it would only represent the fund’s third fall in a decade (net portfolio value dipped in 2016 and again in 2009 during the global financial crisis).Temasek struck a 3 billion euro ($3.4 billion) deal to buy a substantial stake in Bayer AG in April 2018, only to see the German healthcare and agricultural giant lose more than one-third of its value amid a flurry of lawsuits relating to claims a weedkiller brand it acquired when it took over Monsanto Co. causes cancer.The Singapore investor also holds a large interest in U.S. telecoms provider CenturyLink Inc., whose shares slumped 27% in the 12 months through March 31 (Temasek’s financial year-end) after a string of setbacks including a customer lawsuit alleging fraud.Tougher YearIt’s also a shareholder in Industrial & Commercial Bank of China Ltd., down 14.6% over the period, and DBS Group Holdings Ltd., down 8.3%.“For everybody, it’s been a far tougher year,” said CIMB’s Song. “When you’re so large you tend to have a presence in large, representative companies across many industries. When it works, it works it works very well. But as we’ve seen with the Monsanto case, when when it doesn’t, it can flip against you.”Song said he expects Temasek to have an enlarged focus on backing firms that place importance on sustainability amid the rise of environmentally conscious consumers. Temasek’s direct equity investments peaked at $6.13 billion in the second quarter of last year, based on estimates by the Sovereign Wealth Center in London, the Business Times reported last month.Rohit Sipahimalani, Temasek’s co-head of investment, said in May the fund was seeking to make investments related to six themes: longer life spans, rising affluence in emerging markets, sustainable living, smarter systems, the sharing economy and the connected world.Sipahimalani also said Temasek was paying more attention to tech companies and getting in before their initial public offerings because “if you’re not in there early, it’s difficult to catch the wave.”To contact the reporter on this story: David Ramli in Singapore at email@example.comTo contact the editors responsible for this story: Katrina Nicholas at firstname.lastname@example.org, Sam MamudiFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
A juror who was part of a panel that delivered an $80 million award against Bayer AG after finding that its glyphosate-based weed killer Roundup caused a man's cancer has urged the presiding judge to uphold the decision. A letter from the juror written on July 4 was posted to the court docket on Monday as part of legal filings by Bayer. The company accused the juror of bias and called on the judge to disregard the letter in his decision making.
Bayer will apply for approval to make its blockbuster blood thinner Xarelto available for treating children, the German company said on Monday, after a study showed strong efficacy and safety in children with thromboembolism. Bayer added that it would submit an application to the European Medicines Agency for an extension of the Xarelto marketing authorisation. Xarelto is Bayer's best-selling drug and contributed 3.6 billion euros ($4.04 billion) in revenue to the group's pharmaceutical business last year.
AccuWeather founder and CEO Dr. Joel Myers talks about the flooding in the Midwest and climate change.
(Bloomberg) -- Bayer AG Chief Executive Officer Werner Baumann sought to reassure German investors about the prospects of settling litigation over the company’s Roundup weedkiller, an effort to regain their confidence after an unprecedented rebuke at the company’s shareholder meeting in April.The embattled CEO held a series of meetings in Frankfurt this week with key shareholders, according to people familiar with the situation. The outreach comes as the company battles thousands of lawsuits from people who say the weedkiller caused their cancer. Bloomberg Intelligence analysts have said the cases could result in a settlement of as much as $10 billion.Baumann told investors that Ken Feinberg, the high-profile mediator appointed to lead settlement talks for some of the cases, met with both parties and wouldn’t have agreed to take the job if he didn’t think he could broker a deal, according to one of the people, who asked not to be named because the investor discussions were private.A Bayer representative declined to comment.Bayer is trying to win over shareholders concerned that it mishandled the fallout over Roundup after acquiring the herbicide last year in the $63 billion purchase of Monsanto Co. The German company rejects claims that the weedkiller causes cancer and has vowed to keep fighting after losing three trials since the Monsanto deal closed last summer.The meetings came at an auspicious time. A federal judge said he’ll probably reduce -- but not throw out entirely -- an $80 million jury verdict against Bayer in the second case to go to trial over claims that Roundup causes cancer.Damage AwardU.S. District Judge Vince Chhabria said at a hearing Tuesday in San Francisco that part of the damages awarded to a California man for his pain and suffering may have been miscalculated and that the $75 million portion of the verdict intended to punish the company may be too high.Bayer is working to rehabilitate its image as it battles mounting suspicion over the safety of Roundup’s active ingredient, glyphosate. Austria’s parliament earlier this week voted to ban herbicides containing glyphosate, a first in the European Union.Questioned by a shareholder about the Austrian decision, Baumann largely dismissed it, saying that farmers will have a difficult time getting by without glyphosate, one of the people said.The meetings follow a vote against Baumann by shareholders at the company’s annual general meeting in April, where a majority of investors opposed absolving the CEO and other managers of responsibility for their actions in the Monsanto takeover.To contact the reporters on this story: Naomi Kresge in Berlin at email@example.com;Eyk Henning in Frankfurt at firstname.lastname@example.orgTo contact the editors responsible for this story: Eric Pfanner at email@example.com, Marthe FourcadeFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Sydney's city council said on Friday it was reviewing its weed management, which included the use of Bayer AG's Roundup, after other councils in Australia began cutting ties with the product amid concerns about possible links to cancer. The council, which covers the city's business centre, was "reviewing (its) weed management methods and investigating other technologies", a spokeswoman told Reuters in an email, a day after a strike by workers at a nearby council pressured it into trialling an alternative weedkiller. The City of Sydney council currently used Roundup "as a last resort ... when non-pesticide methods such as hand-weeding and mulching have been ineffective", and began testing alternative products in late 2018, the spokeswoman added.
A federal judge will reconsider a jury’s $80 million damage award to a cancer victim who used Monsanto’s Roundup weed-killer.
Jul.16 -- Bayer has won a ruling, slashing a jury verdict to $25M from over $80M over claims its Roundup weed killer causes cancer. The same judge who reduced the punitive damages also rejected the company’s request for a new trial. Bayer had vowed to keep defending its popular weed killer. Bloomberg’s Tim Loh reports on “Bloomberg Markets: European Open.”