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Approval Received: Bayer Shares Down: Roundup Herbicide Dispute Unresolved – Japanese Authorities Approve Bayer’s Xarelto | news

As announced by the chemical and pharmaceutical manufacturer of Leverkusen Bayer, the Japanese pharmaceutical authority MHLW has approved Xarelto for the indication “peripheral arterial occlusive disease after revascularization”. Approval is based on data from the Phase III Voyager Pad study.

The study showed a positive benefit-risk profile for the use of Xarelto in combination with acetylsalicylic acid in patients with symptomatic peripheral arterial disease after recent lower limb revascularization. It is the first study to show the benefit of dual inhibition of blood clotting – with the anticoagulant Xarelto in combination with the platelet aggregation inhibitor acetylsalicylic acid – in these patients with peripheral arterial disease and at high risk of serious cardiovascular events, especially severe in the lower extremities.

No breakthrough in the Roundup herbicide lawsuit

No breakthrough for Bayer in the legal dispute over the alleged carcinogenic effects of the herbicide containing glyphosate Roundup: As announced by the DAX group, the US Supreme Court rejected the pharmaceutical and agricultural group’s request to review the Hardeman case in an appeal process and therefore followed Attorney General Elizabeth Prelogar’s recommendation as the United States government representative in early May.

This initially dispels Bayer’s hope that a positive judgment from the higher court will soon put an end to future and pending claims. Since acquiring Monsanto four years ago, the pharmaceutical and agricultural company has been gripped by an unprecedented wave of lawsuits that have cost billions so far.

“We can’t understand the Supreme Court’s rejection of the Hardeman case,” Bayer said after the decision. The decision undermines the trustworthiness of regulatory decisions for companies because it allows each individual state in the United States to request different usage alerts. This clearly contradicts the uniformity requirement formulated by the US Congress in legal bases such as the Federal Insecticide, Fungicide and Rodenticide Act. While this decision ends the Hardeman case, there are other cases, including Roundup, in which the Supreme Court can address issues of precedence of federal law and conflicting decisions of lower courts “.

Retiree Edwin Hardeman had already sued Monsanto over his cancer prior to the Bayer takeover. He was awarded $ 25 million in compensation, and the Leverkusen-based group also lost the appeal hearing launched by Bayer in 2021.

Before the Supreme Court, Bayer wanted to clarify in principle whether he could be sentenced to pay damages in individual states due to the lack of warning about the risks of cancer, even if such a warning is not allowed by federal law.

Bayer is now relying on the case of the Pilliod couple, which the company has also lost and has filed an appeal with the Supreme Court. The judges will discuss this on Thursday and a decision could be published next week.

Bayer shares fall – US Supreme Court dismisses glyphosate case

Disappointment for Bayer shareholders: The US Supreme Court rejected the DAX Group’s request to look into a glyphosate case. The shares then dropped to a whopping 60 euros on Tuesday afternoon, the lowest level since mid-May. The stock closed 2.05% lower at EUR 62.06.

The rejection is hardly a surprise, since the US government had already recommended the move. While this is not binding on the court, it is an indication. Had it been a hearing and Bayer had won, the Leverkusen-based company could have put an end to the costly litigation over alleged cancer risks from glyphosate-containing herbicides – that was the hope of the investors. Especially since Bayer has recently been successful in lower courts and has been able to win cases on glyphosate.

First of all, the Supreme Court’s hope for Bayer is over. However, the Hardeman case, which has now been dismissed, is just one of many that the agrochemical and pharmaceutical company wants to clear up by the US Supreme Court. “The Supreme Court should soon decide whether to accept our request for a review of the Pilliod case,” Bayer said Tuesday.

In addition, Bayer has once again stressed that it is prepared for the legal risks of potential future actors with the billions in provisions that were posted long ago.

For now, Tuesday’s price drop is just another drag on stocks that have been strong so far this year. In May, following the negative recommendation of the US government to the Supreme Court for Bayer, they had dropped to as much as 55 euros, but then they quickly recovered. However, in April they did not quite come close to the annual high of just under € 68.

For 2022, price gains still amount to nearly a third, which means by far the top spot in the DAX. A strong agricultural market environment and successes with new drug and drug candidates provided a favorable wind. The latter cleared up the doubts of many investors about the prospects of the pharmaceutical division.

Despite the recent recovery in price, the shares are still a third lower than before the defeat in the first glyphosate lawsuit in the summer of 2018. The litigation has already cost the company billions and Bayer boss Werner Baumann, who took over The US seed company Monsanto has brought in a lot of criticism.

FRANKFURT (Dow Jones / dpa)

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