Bayer drops pre-market after $2 bln Roundup verdict

Bayer BAYGn.DE drops around 4% in pre-market indications after it was hit with a $2.1 billion Roundup verdict

The verdict is one of the largest settlements issued relating to Monsanto's weed killer Roundup, which some claim causes cancer

So far, the company has paid out $10 billion to settle disputed claims, with over 66,000 further cases still pending, for which Bayer has set aside another $5.9 billion in legal provisions

Although the verdict does not change Bayer's overall situation, it will likely make upcoming potential legislative changes and U.S. Supreme Court filing more important, J.P.Morgan analysts say in a note

"Bayer will likely be able to reduce the punitive damages significantly on appeal, as well as appealing against the findings of the jury, though this will take time," they add