Bayer Shares Drop After Court Review Announcement

Bayer AG's shares dropped by nearly 7% following the Washington state Supreme Court's decision to review a case involving allegations that exposure to toxic chemicals from its Monsanto unit caused brain injuries to three teachers. The court's acceptance of the case for review comes after an appeals court previously overturned a $185 million jury award, citing flaws in the trial. Bayer, which acquired Monsanto in 2018, argues that the claims are based on materials that Monsanto ceased producing in 1977. The company's stock has now declined almost 20% this year and is experiencing its worst performance since March. Bayer faces numerous ongoing legal challenges related to its products, including the widely contested Roundup herbicide, which has led to around 125,000 charges in the U.S. alone. The company maintains that its products, including Roundup, are safe despite extensive litigation.