Shares of pharmaceutical company of German Bayer have decreased significantly following a US verdict on linking a product to a cancer.
By mid-morning, Monday, Bayer shares had lost 10.4% of their value.
Bayer is the owner of the agriculture giant Monsanto – which has been ordered by a California judge on Friday to pay $289m (£226 million) in damages to a man who said that the ingredients used in a herbicide had caused his cancer.
Bayer says that the product – glyphosate is safe. It has completed its $66bn takeover of Monsanto in June.
The EU settled a dispute over a weedkiller such as glyphosate
“The united KINGDOM will be to support the” prohibition of the use of pesticides
The villagers, who were afraid of the herbicides
The landmark lawsuit was the first to go to trial, alleging a glyphosate link to cancer.
The claimant, a groundsman Dewayne Johnson, was diagnosed with non-Hodgkin lymphoma in 2014. His lawyer said he regularly used the form of RangerPro while working in a school in Benicia, California.
The California jury said that Monsanto would have to warn users about the dangers of its Roundup and RangerPro herbicides.
Mr. Johnson is among more than 5,000 similar applicants across the united states.
Glyphosate is the world’s most common weedkiller. The California ruling could lead to hundreds of other claims against Monsanto.
Bayer spokesman told the BBC on Saturday that the two companies operate independently. In a statement from the company said: “Bayer is convinced, on the strength of the science, the conclusions of regulatory agencies around the world and decades of experience, that glyphosate is safe for use and does not cause cancer when it is used according to the label.”
Monsanto has said that it intends to appeal against the verdict.
What is glyphosate, and is it dangerous?
Glyphosate was introduced by Monsanto in 1974, but its patent expired in 2000, and now the chemical is sold by various manufacturers. In the united states, there are over 750 products containing them.
In 2015, the International Agency for Research on Cancer, the World Health Organization’s cancer agency has concluded that glyphosate was “likely to be carcinogenic to humans”.
However, the US Environmental Protection Agency (EPA) insists on the fact that it is safe when it is used with care.
The European Food Safety Authority (EFSA) has also said that glyphosate is unlikely to cause cancer in humans.
Last November, in 2017, the EU countries voted to renew the license for glyphosate despite campaigns against it.
BBC North American correspondent James Cook said that, in California, where a judge ruled that the café must carry a cancer warning – the agriculture industry sued to prevent such a label of glyphosate, even though the state lists as a chemical known to cause cancer. What do we know about glyphosate?What happened in the groundsman?
Jurors found Friday that Monsanto had acted with “malice” and that the herbicides contributed “substantially” to Mr. Johnson’s terminal illness.
/ Getty Images
Following an eight-week trial, the jury ordered the company to pay $ 250 million in punitive damages and other costs brought the total figure to almost$290 million.
Mr. Johnson’s lawyer, Brent Wisner, stated that the verdict of the jury showed that the evidence against the product has been “overwhelming”.
“When you’re right, it is really easy to win,” he said.