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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.
A probe by the investigations unit of India's antitrust body has found that Monsanto abused its dominant position as a supplier of genetically modified (GM) cotton seeds in the country, three sources with direct knowledge of the matter told Reuters. The Competition Commission of India (CCI) in 2016 ordered the unit to carry out the probe after the agriculture ministry and some local seed companies complained that Monsanto was charging unreasonably high royalty fees for its GM technology.
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Bayer said on Monday its Monsanto unit, which is being investigated by French prosecutors for compiling files of influential people such as journalists in France, likely did the same across Europe, suggesting a potentially wider problem. French prosecutors said on Friday they had opened an inquiry after newspaper Le Monde filed a complaint alleging that Monsanto - acquired by Bayer for $63 billion (48 billion pounds) last year - had kept a file of 200 names, including journalists and lawmakers in hopes of influencing positions on pesticides. On Sunday, Bayer acknowledged the existence of the files, saying it does not believe any laws were broken but that it will ask an external law firm to investigate.
The French prosecutor on Friday said it had opened a preliminary investigation into a suspected file assembled by Bayer's seed maker Monsanto to influence various personalities in France. The probe was opened after a complaint was filed by daily newspaper Le Monde. According to Le Monde and other French media, Monsanto built up a file of some 200 names that includes journalists and law makers in the hope of influencing their positions on pesticides.
WASHINGTON (AP) — The Environmental Protection Agency reaffirmed Tuesday that a popular weed killer is safe for people, as legal claims mount from Americans who blame the herbicide for their cancer.
PARIS/LYON (Reuters) - A French court has ruled that Monsanto was liable for the sickness of a farmer who inhaled one of its weedkillers, in another legal setback for the Bayer-owned business over health claims. In the latest stage of a decade-long legal tussle, the appeals court in Lyon on Thursday found in favour of farmer Paul Francois' claim that Monsanto's Lasso weedkiller had made him sick and that the product's labelling had been inadequate. "Mr Francois justifiably concludes that the product, due to its inadequate labelling that did not respect applicable regulations, did not offer the level of safety he could legitimately expect," the court said in its ruling.
Bayer's non-executive board reaffirmed its support for top management's decision to acquire seed maker Monsanto last year, after losing high-profile lawsuits to U.S. plaintiffs who claimed Monsanto's Roundup weedkiller caused their cancer. In documents posted on the company's website on Monday, the non-executive supervisory board said an expert opinion it commissioned from lawfirm Linklaters found that Bayer's management had complied with their duties when acquiring Monsanto for $63 billion last year. "The Supervisory Board extensively discussed this expert opinion and based on this also comes to the conclusion that the Board of Management acted in compliance with its duties," it said.
SAN FRANCISCO (AP) — A U.S. jury on Wednesday awarded more than $80 million in damages to a California man who blamed Roundup weed killer for his cancer, in a case that his attorneys say could help determine the fate of hundreds of similar lawsuits.
Massachusetts Sen. Elizabeth Warren is calling for the breakup of what she says are unfair farming monopolies. Warren says family farms struggle because "bad decisions in Washington have consistently ...
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SAN FRANCISCO (AP) — Roundup weed killer was a substantial factor in a California man's cancer, a jury determined Tuesday in the first phase of a trial that attorneys said could help determine the fate of hundreds of similar lawsuits.
India has cut the royalties that local seed companies pay to German drugmaker Bayer AG's Monsanto unit for the third time in four years. Prime Minister Narendra Modi's government has decided to reduce royalties paid by Indian seed companies to Monsanto for its genetically modified (GM) cotton by 49 percent to 20 rupees for a packet of 450 grams, according to a farm ministry order. The decision could prompt Monsanto and other foreign seed companies to further scale back investment in the sector, said Ram Kaundinya, director general of the Federation of Seed Industry of India.
SAN FRANCISCO (AP) — A jury in federal court in San Francisco will decide whether Roundup weed killer caused a California man's cancer in a trial starting Monday that plaintiffs' attorneys say could help determine the fate of hundreds of similar lawsuits.
Rating Action: Moody's withdraws Monsanto Company ratings. Global Credit Research- 12 Feb 2019. Approximately $1.0 billion of rated debt affected.
German drugmaker Bayer AG's Monsanto unit has won proceedings against Indian seed maker Nuziveedu Seeds Ltd (NSL) in a royalty dispute, lawyers familiar with the matter said. The lawyers, who did not wish to be named as the decision was not public, did not disclose the terms of the arbitration ruling. Mahyco Monsanto Biotech (India) (MMB), a joint venture between Missouri-based Monsanto and India's Maharashtra Hybrid Seeds Co (Mahyco), "has received a favourable award from the arbitration panel in the proceedings against NSL and Prabhat", a Bayer spokesman said in an e-mailed statement when asked about the ruling.
A decade-old lawsuit in which a French farmer with neurological problems accuses Monsanto of not providing adequate safety warnings for a weedkiller returns to court on Wednesday, adding to health claims faced by the Bayer-owned firm. Paul Francois, who says he fell ill after inhaling vapour from weedkiller Lasso in 2004, won rulings in 2012 and 2015 that found Monsanto liable for the intoxication, before France's top court overturned those decisions and ordered a new hearing. An appeal court in the southeastern French city of Lyon will hear arguments on Wednesday before giving its verdict at a later date.
NEW DELHI/MUMBAI (Reuters) - India's Supreme Court ruled on Tuesday that Monsanto can claim patents on its genetically modified (GM) cotton seeds, a victory for the U.S. company that is expected to encourage biotechnology firms to step up investment in the country. The decision on appeal overturns an earlier ruling by the Delhi High Court that Monsanto - the world's biggest seed maker, which has been bought by Germany's Bayer AG - could not claim patents on GM cotton seeds.
A nationalist group close to Indian Prime Minister Narendra Modi's party said on Tuesday it would seek a legislative amendment to the rules governing patents, after the country's top court ruled in favour of Monsanto's cotton seed patent. The Supreme Court allowed Monsanto to claim patents on its genetically modified cotton seeds in the world's biggest producer of the fibre, overturning a decision of a lower court.
SolomonEdwards, a national professional services firm, has added Kimberly Rodichok to its consulting team as a Director in their Technical Accounting and Regulatory Advisory Services Practice. As Director, Kimberly joins Brian McAuliffe, both of whom will support Greater Washington D.C. metro businesses in the areas of business transformation and project management. Kimberly, a seasoned management consultant with an accomplished history of providing counsel to federal clients, has a proven track record of effectively overseeing teams and elaborate projects.
CNBC's Jim Cramer, David Faber and Carl Quintanilla discuss which sectors and businesses might feel the most impact during the U.S.-China trade war.
Will pot get a political boost from Congress? With CNBC's Melissa Lee and the Fast Money traders, Tim Seymour, Brian Kelly, Steve Grasso and Guy Adami.