The Monsanto Acquisition makes Bayer more and more problems. The wave of lawsuits because of possible damage to Health caused by glyphosate unrestrained rolls. And now the bad weather is slowing down the business with US farmers.
Thousands more complain of possible glyphosate-victims, and poor transactions with the farmers in the United States: The Acquisition of the US seed giant Monsanto, the agricultural chemical and pharmaceutical group Bayer, more and more problems. In the past three months, around 5000 more lawsuits because of alleged cancer risk of the glyphosate-containing Monsanto in the United States-Weed killer Roundup, as Bayer announced on Tuesday in Leverkusen, Germany, at the presentation of the Figures for the second quarter. Thus, the number of applicants increased to approximately 18,400.
An important reason for the further swelling of the suits are likely to be layers of the Process, which had to contend with Bayer in the first three glyphosate-procedure in the United States. In the proceedings the plaintiffs substantial damages in the high double-digit million-Dollar range were awarded. Bayer refers to citing numerous scientific studies, however, continue to be on the safety of glyphosate when used correctly, and in all three cases on appeal. The rationale behind this is that the professional judges could assess the matter in the next instance, unlike the jury.
Goals for the year, “increasingly ambitious”
However, not only the armed glyphosate spoils Bayer is currently the joy of the 63 billion dollars of new advertising. Also, the business of Monsanto are running at the Moment is not as good as hoped. Floods and heavy rains in the Midwest of the USA, as well as the drought in large Parts of Europe and in Canada, the demand for many Monsanto products, a break-in. Although the group was confirmed at the presentation of the Figures for the second quarter, specifically the Outlook for the year, referred to the forecast, but given the difficult environment for the plant protection business as “increasingly ambitious”.
Bayer is aiming for 2019 an increase in revenue of 46 billion euros and a growth of earnings before interest, taxes, depreciation and amortization (Ebitda) and before special – and currency influences, to 12.2 billion euros. In the past the second quarter of the year, group sales rose by more than a fifth to almost 11.5 billion Euro, which was, in particular, to the Acquisition of Monsanto. Currency effects as well as Unternehmenszu – and -sales-on-year, was the Plus, only at a measly 0.9 per cent. That Bayer could even have a organic growth, primarily because of the business with prescription drugs.
Especially the anticoagulant Xarelto and the eye drug Eylea have recorded significant growth in sales. But even with the prescription drugs, the sales and earnings development was positive. The bottom line is the result of the group broke through in the second quarter, but around half to EUR 404 million. This was due to costs for the Integration of Monsanto, depreciation on the sold US foot care brand Dr. Scholl’s, as well as expenses for restructuring the group, in the course of many Thousands shed. Bayer is trying to Jobbau with high severance payments to implement.
hb/bea (dpa)