The stock price of Germany's life sciences company Bayer (BAYN, Financial) fell by over 7% recently. This decline followed a U.S. court's decision to review a case involving Bayer's Monsanto subsidiary related to PCB exposure affecting individuals at a school.
The Washington State Supreme Court has agreed to review a lawsuit concerning PCB exposure at Sky Valley Education Center, one of many similar cases Bayer is handling. Previously, an appellate court overturned a $185 million trial verdict in May due to identified deficiencies in the case.
At the close of recent trading, Bayer's stock was down 7.29%, potentially marking its worst single-day performance since March. The stock has fallen over 13% this year, and the company faces over a 30% decline in its share value since the start of 2023 due to lawsuits involving Monsanto and significant net debt challenges.
In a statement, Bayer emphasized that there is no reason for a different outcome on appeal. The company highlighted that the Washington appellate court had already identified three significant errors in the case, including issues with the scientific validity of the plaintiff's testimony on PCB exposure.
