Reuters – Further deterioration in demand for glyphosate-based weed killers led Bayer BAYGn.DE to cut its full-year earnings outlook and announce a 2.5 billion euro ($2.8 billion USD) write-down on glyphosate-related assets. In an unscheduled statement late on Monday, the German drugs and pesticides maker said it was projecting 2023 earnings before interest, taxes, depreciation […] Read more
Tag Archives bayer — page 4
Bayer slashes outlook as glyphosate demand weakens further
Analysts say dry weather conditions hurt farmers' demand for seeds and pesticides
Bayer settles with New York over Roundup safety claims
Company blocked from advertising product as non-toxic
New York | Reuters — Bayer agreed on Thursday to pay US$6.9 million to settle claims by New York Attorney General Letitia James that it misled consumers by advertising Roundup, which has been linked to cancer, as environmentally safe. The settlement resolves accusations that Bayer and its Monsanto unit failed to substantiate their repeated claims […] Read more
Bayer under investor pressure to speed up CEO changeover
Drug and chem firm's stock in 'crisis of trust,' investor says
Frankfurt | Reuters — A top-10 shareholder in Bayer on Tuesday called on the group’s supervisory board to replace CEO Werner Baumann quickly, adding to investor pressure to restore trust and revive the German drugmaker’s sagging share price. Despite recent improvements in the company’s agriculture business and drug development prospects, Bayer shares have been weighed […] Read more
Activist investor reported building stake in Bayer, seeking breakup
Bayer up for 'constructive dialogue'
Reuters — Activist investor Bluebell Capital Partners has built a stake in Bayer AG and is pushing for a breakup of the German pharmaceutical and agriculture company, Bloomberg reported on Tuesday, citing sources. U.K.-based Bluebell is also seeking an overhaul of Bayer’s corporate governance, the report added. A Bayer spokesperson, who declined to comment on […] Read more
Bayer’s agriculture unit, consumer health drive outlook hike
Frankfurt | Reuters – Agriculture and pharmaceuticals company Bayer BAYGn.DE on Thursday lifted its 2022 earnings guidance on strong demand from farmers for its seeds and crop chemicals and higher sales of consumer health products. Bayer is now targeting earnings before interest, taxes, depreciation and amortisation (EBITDA), adjusted for special items, of about 13 billion […] Read more
Bayer, BASF win new trial on damage award in U.S. dicamba suit
Reuters — Bayer and BASF have won a new trial on US$60 million in punitive damages they were ordered to pay a Missouri peach farmer who said dicamba, a herbicide they produced, drifted onto his orchard and harmed his crops. The Eighth U.S. Circuit Court of Appeals found that a federal jury was wrongly told […] Read more
U.S. Supreme Court again nixes Bayer challenge to weedkiller suits
Washington | Reuters – The U.S. Supreme Court on Monday rejected another Bayer AG BAYGn.DE bid to dismiss litigation alleging that its Roundup weedkiller causes cancer as the German pharmaceutical and chemical giant tries to avoid potentially billions of dollars in damages. The justices turned away a Bayer appeal and left in place a lower […] Read more
U.S. Supreme Court rejects Bayer bid to toss Roundup suits
Washington | Reuters — The U.S. Supreme Court on Tuesday rejected Bayer’s bid to dismiss legal claims by customers who contend its Roundup herbicide causes cancer as the German company seeks to avoid potentially billions of dollars in damages. The justices turned away a Bayer appeal and left in place a lower court decision that […] Read more
Bayer launches herbicide with two modes of action
Bayer CropScience’s new herbicide, Corvus, is now commercially available for growers in Eastern Canada for the 2022 season. Corvus provides season-long control of broadleaf and grass weeds, including glyphosate-resistant weeds in field and seed corn. It combines Group 2 and 27 modes of action, and can be applied pre-emerge, pre-plant incorporated, or early post emerge […] Read more
Bayer rolling out short corn variety tolerant of weather extremes
Reuters — Global farm chemicals and seeds maker Bayer will launch a corn variety in the United States next year that it says will better tolerate heavy winds associated with climate change, estimating future sales in North America as high as one billion euros. The corn, which grows one-third shorter than current varieties, will be […] Read more
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