Released August 20, 2018 | GALWAY, IRELAND
en
Written by Martin Lynch, European News Editor for Industrial Info (Galway, Ireland)--German pharmaceuticals and chemicals major Bayer AG (Leverkusan, Germany) saw 10% knocked off the value of its share price after a U.S. court ruled that the Roundup weedkiller was responsible for causing cancer in a groundskeeper.
The California court awarded $289 million in damages to Dewayne Johnson, ruling that the company failed to adequately warn Roundup and RangerPro users of the cancer risks. Roundup, which contains glyphosate, is made by Bayer's newly acquired Monsanto Company (St. Louis, Missouri), the world's largest supplier of seeds. Bayer completed its $66 billion merger with Monsanto in June, after getting the green light for the deal from the European Commission in April. For additional information, see April 23, 2018, article - Bayer-Monsanto $66 Billion Merger Gets European Green Light. The ruling opens the door for more damaging financial penalties against the company, which is facing 5,000 similar lawsuits over the company's glyphosate-based weedkillers in the U.S. Glyphosate is the world's most common weedkiller. Monsanto said it will appeal the decision.
Scott Partridge, a vice president at Monsanto said: "Today's decision does not change the fact that more than 800 scientific studies and reviews -- and conclusions by the U.S. Environmental Protection Agency, the U.S. National Institutes of Health and regulatory authorities around the world -- support the fact that glyphosate does not cause cancer, and did not cause Mr. Johnson's cancer. We will appeal this decision and continue to vigorously defend this product, which has a 40-year history of safe use and continues to be a vital, effective, and safe tool for farmers and others."
Industrial Info is tracking Bayer and Monsanto projects worth more than $3 billion across the Chemical Processing, Food & Beverage and Pharmaceutical sectors. For additional information, see September 15, 2016, article - Bayer-Monsanto Merger Encompasses $3.25 Billion of Projects.
Global retail sales of Roundup and sister glyphosate-based products could be severely impacted as a number of major DIY outlets, including Homebase and B&Q in the U.K. are reviewing the products in light of the court's decision. Homebase stated: We have confirmed that we will be reviewing our range of weedkiller products," while a B&Q spokesperson told media: "We have a record of acting ahead of legislation where appropriate. We led the way in removing three pesticides in 2013 and neonicotinoids from our flowering plants in 2018. We offer alternatives to glyphosates and are currently undertaking a broader review of all our garden products."
Last November, the European Commission granted a fresh five-year licence for the glyphosate weedkiller's use in the European Union. The decision was delayed by months, but finally the herbicide was granted a licence by the EU Commission's Standing Committee on Plants, Animals, Food and Feed. Of the 28 member states, 18 voted in favour, nine against and one abstained.
Reacting to the U.S. court ruling, the U.K.'s Department for Environment, Food & Rural Affairs stated: "Decisions on the use of pesticides should be based on careful scientific assessment of the risks. Once outside the EU, we will continue to make decisions on pesticides based on the best available science."
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Our European headquarters are located in Galway, Ireland. Follow IIR Europe on: Facebook - Twitter - LinkedIn For more information on our European coverage send inquiries to info@industrialinfo.eu or visit us online at Industrial Info Europe.
The California court awarded $289 million in damages to Dewayne Johnson, ruling that the company failed to adequately warn Roundup and RangerPro users of the cancer risks. Roundup, which contains glyphosate, is made by Bayer's newly acquired Monsanto Company (St. Louis, Missouri), the world's largest supplier of seeds. Bayer completed its $66 billion merger with Monsanto in June, after getting the green light for the deal from the European Commission in April. For additional information, see April 23, 2018, article - Bayer-Monsanto $66 Billion Merger Gets European Green Light. The ruling opens the door for more damaging financial penalties against the company, which is facing 5,000 similar lawsuits over the company's glyphosate-based weedkillers in the U.S. Glyphosate is the world's most common weedkiller. Monsanto said it will appeal the decision.
Scott Partridge, a vice president at Monsanto said: "Today's decision does not change the fact that more than 800 scientific studies and reviews -- and conclusions by the U.S. Environmental Protection Agency, the U.S. National Institutes of Health and regulatory authorities around the world -- support the fact that glyphosate does not cause cancer, and did not cause Mr. Johnson's cancer. We will appeal this decision and continue to vigorously defend this product, which has a 40-year history of safe use and continues to be a vital, effective, and safe tool for farmers and others."
Industrial Info is tracking Bayer and Monsanto projects worth more than $3 billion across the Chemical Processing, Food & Beverage and Pharmaceutical sectors. For additional information, see September 15, 2016, article - Bayer-Monsanto Merger Encompasses $3.25 Billion of Projects.
Global retail sales of Roundup and sister glyphosate-based products could be severely impacted as a number of major DIY outlets, including Homebase and B&Q in the U.K. are reviewing the products in light of the court's decision. Homebase stated: We have confirmed that we will be reviewing our range of weedkiller products," while a B&Q spokesperson told media: "We have a record of acting ahead of legislation where appropriate. We led the way in removing three pesticides in 2013 and neonicotinoids from our flowering plants in 2018. We offer alternatives to glyphosates and are currently undertaking a broader review of all our garden products."
Last November, the European Commission granted a fresh five-year licence for the glyphosate weedkiller's use in the European Union. The decision was delayed by months, but finally the herbicide was granted a licence by the EU Commission's Standing Committee on Plants, Animals, Food and Feed. Of the 28 member states, 18 voted in favour, nine against and one abstained.
Reacting to the U.S. court ruling, the U.K.'s Department for Environment, Food & Rural Affairs stated: "Decisions on the use of pesticides should be based on careful scientific assessment of the risks. Once outside the EU, we will continue to make decisions on pesticides based on the best available science."
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Our European headquarters are located in Galway, Ireland. Follow IIR Europe on: Facebook - Twitter - LinkedIn For more information on our European coverage send inquiries to info@industrialinfo.eu or visit us online at Industrial Info Europe.
