Bayer shares plunge in wake of Monsanto weed killer verdict

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Monday, August 13, 2018
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Shares in German farm chemicals, materials and drug company Bayer have plunged in the wake of a U.S. court verdict against Monsanto.

FRANKFURT, Germany -- Shares in German farm chemicals, materials and drug company Bayer have plunged in the wake of a U.S. court verdict against Monsanto, which Bayer has acquired.

Shares of Leverkusen-based Bayer fell 11 percent Monday in morning trading in Europe to 83.09 euros per share.

RELATED: Jury rules Monsanto liable in weed killer case

A jury in U.S. federal court in California delivered a $289 million verdict Friday on behalf of a former school groundskeeper who said that exposure to Monsanto's Roundup weed killer caused his non-Hodgkin's lymphoma, a form of cancer. Monsanto said government agencies and hundreds of studies have concluded Roundup is safe.

MORE: Questions the Johnson v. Monsanto jury answered to determine the verdict

Bayer completed its takeover of Monsanto on June 7. It says it will no longer use the Monsanto name.