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French court cancels permit for Monsanto's Roundup weedkiller

Published 01/15/2019, 12:45 PM
Updated 01/15/2019, 12:45 PM
© Reuters.  French court cancels permit for Monsanto's Roundup weedkiller

© Reuters. French court cancels permit for Monsanto's Roundup weedkiller

  • A French court cancels the license for one of Monsanto’s (OTCPK:BAYRY -0.5%) glyphosate-based weedkillers over safety concerns, placing an immediate ban on Roundup Pro 360 in the country.
  • The court says the environmental agency ANSES had not respected a precautionary principle in French law, notably by not conducting a specific evaluation of health risks for Roundup Pro 360.
  • Bayer (DE:BAYGN), which says it disagrees with the decision and will consider its legal options, has cited regulatory rulings as well as scientific studies that found glyphosate to be safe.
  • Bernstein analysts say the financial impact on Bayer should be limited, given it concerns one product in a market for glyphosate-based weedkillers worth ~€40M.
  • Now read: Eli Lilly (NYSE:LLY) Buys Loxo, This Year Looks To Be An M&A Year To Never Forget


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