Bayer Investors Await Roundup Settlement

Dow Jones
11/04

1030 GMT - Bayer reported strong results for the third quarter, but investors' main focal point remains the proposed settlement for litigation over its Roundup weedkiller, UBS says in a note. Executives at the German agricultural and pharmaceutical group said during an earnings call Tuesday that a decision on the settlement's approval is expected before Christmas. The number of plaintiffs who opted out of the settlement is subject to change, since some revoked their initial requests after recent rulings in favor of the company, the analysts say. Beyond the settlement, investors also await the launch of the stroke-prevention drug asundexian in the U.S. and data from rival product milvexian, the analysts add. UBS lifts its target price on Bayer stocks to 66 euros from 62 euros. Shares rise 2.8% to 53.28 euros.

 

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