Bayer nears 7-year low after $2 billion award in Roundup trial

The stock closed at its lowest level in almost seven years, even though the punitive damages award is likely to be reduced due to U.S. Supreme Court rulings that limit the ratio of punitive to compensatory damages to 9:1. The jury set the total punitive damages at $2 billion and added $55 million in compensatory pay, concluding that Roundup - based on herbicide glyphosate - had been defectively designed, and that the company failed to warn of the herbicide's alleged cancer risk. It was the third consecutive U.S. jury verdict against the company in litigation over the chemical, which Bayer acquired as part of its $63 billion purchase of Monsanto last year.

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