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Bayer (OTCPK:BAYRY) (OTCPK:BAYZF) said it won a trial involving its Roundup weedkiller in Pennsylvania on Tuesday, while plaintiffs in California dismissed another proceeding, in a boost for the company after a series of setbacks.
A jury ruled against a retired postal service worker in Pennsylvania who alleged he developed non-Hodgkins lymphoma from using Roundup, and a California farmer who said he contracted the same type of cancer from exposure to the weedkiller voluntarily dropped his lawsuit while a trial was underway.
Bayer (OTCPK:BAYRY) (OTCPK:BAYZF) has been ordered to pay billions of dollars in damages during recent years in cases that alleged Roundup caused cancer, but it has won three straight trials – including in Arkansas last week – and 13 of the last 19 where judgments were entered at trial.
CEO Bill Anderson told investors earlier this week that the company is “considering every possible means to bring closure” to the litigation, including solutions “outside the courtroom,” although he did not offer details.
Bayer (OTCPK:BAYRY) (OTCPK:BAYZF) said it is targeting €2B in cost reductions from 2026, which corresponds to ~20% of anticipated 2024 operating profit.
