Bayer shares fell more than 6% on Tuesday after a US judge questioned part of the German company’s proposed settlement to deal with future claims relating to allegations that its widely used weedkiller Roundup caused cancer.
“The court is sceptical of the propriety and fairness of the proposed settlement, and is tentatively inclined to deny the motion,” judge Vince Chhabria said in a filing with the US district court, northern district of California. Regulators, including the US Environmental Protection Agency and the European Chemicals Agency, have determined glyphosate to be non-carcinogenic, supporting Bayer’s claim that the active ingredient in its Roundup product is safe for agricultural use.
Chhabria also questioned whether potential claimants want to remain bound by a ruling reached by the proposed scientific panel if research is still ongoing.
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