Tag: $Bayer

Bayer has agreed to sell a minority stake in its contraceptives business to Apollo Global Management in a €3bn deal, as the German pharmaceuticals group seeks to shore up its finances after years of costly US litigation over its Roundup weedkiller.

Bayer shares fell sharply after the company was ordered to pay $2.1 billion by a jury in a Georgia state court, the latest legal defeat for the company in a case about its Roundup weedkiller.

Shares of German life sciences company Bayer fell nearly 7% on Wednesday, after a U.S. court said it would review a case alleging that exposure to products of the company’s Monsanto unit harmed individuals.

Bayer shares jumped in morning trade as the German life sciences company said it scored a legal victory in its suit over claims that exposure to its popular Roundup weed killer led to cancer.

Shares in Bayer dropped as much as 5.7% on Monday after the embattled German company was ordered to pay $2.25 billion in damages, the highest amount yet in its ongoing litigation linked to an alleged carcinogenic effect of its Roundup weedkiller.

Bayer shares plunged to their lowest level in more than a decade after the group abandoned a key late-stage trial of a blood-thinning drug that was seen as a prospective blockbuster, saying it did not work as hoped.