Shares in German pharmaceutical group Bayer have dropped sharply following a US verdict linking a product to cancer. By mid-morning on Monday, Bayer's shares had lost 10.4% of their value.
Pharmaceutical group Bayer has dismissed claims that an ingredient used in weed killers is carcinogenic. The German company, which owns agriculture giant Monsanto, says herbicides containing glyphosate are safe.
Brazilian antitrust agency Cade extended its deadline to review the takeover of Monsanto Co by Bayer AG by 90 days to late March, potentially spoiling plans to wrap up the US$66 billion tie-up by the end of the year.
Seed and chemical giants Bayer and Monsanto said on Wednesday that they will merge to become one of the world’s biggest agriculture giants, a 66 billion-dollar mega-deal that could reshape the future of farming and enhance their influence over the planet’s food supply.