Shares in German pharmaceuticals and chemicals group Bayer fell almost 10 per cent in early trade on Monday, after a US court ruled that weedkiller Roundup had caused cancer in a groundskeeper and awarded him $298m in damages.
The US court ruled on Friday that the maker of Roundup, US seed and chemicals group Monsanto, had failed to warn groundskeeper Dewayne Johnson as well as other consumers of the cancer risks posed by its weed killers. It awarded him $39m in compensation and $250m in punitive damages.
The ruling is a worry for Bayer and its investors, which completed a $63bn takeover of Monsanto in June, since it could lead to further claims against the company. Shares fell as much as 9.8 per cent in early trade in Frankfurt, after having fallen 7.8 per cent in pre market trade.