Shares in the pharmaceuticals giant climbed as much as 3% on the news.
Bayer's stock climbed as much as 3% on Tuesday after a federal judge slashed a payout over its Roundup weed killer by nearly 70% to about $25 million. A San Francisco jury determined Roundup caused a user to develop cancer and awarded him $75 million in punitive damages. The judge cut that to $20 million after deciding the original figure was"constitutionally impermissible" as it was too high relative to the $5.3 million in compensatory damages.
Bayer's stock climbed as much as 3% on Tuesday after a federal judge slashed a payout over its Roundup weed killer by nearly 70% to about $25 million. A San Francisco jury determined Roundup caused a user to develop cancer and awarded him $75 million in punitive damages. The judge cut that to $20 million after deciding the original figure was"constitutionally impermissible" as it was too high relative to the $5.3 million in compensatory damages.
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