Bayer to appeal $275 million US jury verdict on PCB injury claims

Germany's Bayer (OTC:BAYRY) plans to legally challenge a jury verdict awarding $275 million to a group of people who claimed they suffered from exposure to PCBs, a chemical produced by Bayer's Monsanto (NYSE:MON) as far back as 1977, the company said on Friday.

Bloomberg and other media outlets reported Thursday on the verdict in King County Superior Court in the US state of Washington in favor of 13 plaintiffs who blamed exposure to polychlorinated biphenyls, or PCBs, at Sky Valley School in Monroe County for their illnesses. "We respectfully disagree with the jury's split verdict in this 13-plaintiff case and plan to pursue post-trial motions and appeals based on the multiple errors and lack of evidence at trial," German Bayer said in a statement. "The undisputed evidence in this case does not support the conclusions that the plaintiffs were exposed to unsafe levels of PCBs at the Sky Valley Training Center or that these exposures were responsible for the alleged health problems." Bayer shares fell 0.9% at 0738 GMT, while Germany's blue-chip index DAX rose 0.7%. While Monsanto's weed killer Roundup poses a much larger litigation burden for Bayer, the diversified health and agriculture company is also trying to resolve lawsuits related to PCBs. The chemical was used in commercial crops until Monsanto voluntarily ended production in 1977. Since 2020, Bayer has settled most lawsuits with municipalities over PCB-contaminated wastewater for $650 million, but some other claims remain pending. In August, it set aside 694 million euros for an expected settlement with the State of Oregon over PCBs in wastewater. This group of substances was once used in electrical equipment, carbonless copy paper, caulks, floor coatings and paints. It was banned by the US government in 1979 after being linked to cancer. Follow Global Economic Developments on Social Media! Click here to follow Ieconomy official Facebook account! Click here to follow Ieconomy official Instagram account! Click here to follow Ieconomy official Twitter account!