Bayer shares jumped in morning trade as the German life sciences company said it scored a legal victory in its suit over claims that exposure to its popular Roundup weed killer led to cancer.
The stock was up 10.71% at 1:18p.m. London time.
The company on Thursday announced that the 3rd U.S. Circuit Court of Appeals in Philadelphia found in its favor against plaintiff David Schaffner’s claim alleging that the Monsanto corporation — which Bayer acquired in 2018 — violated state law by failing to add a cancer warning to the Roundup label.
Schaffner was diagnosed with non-Hodgkin’s lymphoma — a type of cancer affecting the lymph system — in 2006. He and his wife Theresa Sue sued Monsanto in May 2019, partly citing a loss of consortium, which refers to the impact of his illness on their relationship.
Schaffner, a landscaper, claimed he was exposed to Roundup both professionally and as a private property owner.
Writing for a three-judge panel, …