Bayer falls on $7.25 billion Roundup settlement plan

German pharmaceutical firm Bayer AG's BAYGn.DE shares fall 7.6% after the company said it proposed a $7.25 billion plan to settle Roundup cancer cases, causing doubts in the market

The German company said the proposed nationwide settlement, filed on Tuesday in state court in St. Louis, Missouri, would establish a long-term claims program funded by capped annual payments over up to 21 years

"There is still a pending case at the US Supreme Court. My view is that the outcome of this Supreme Court decision is also crucial whether plaintiffs will eventually accept the settlement," Stephan Wulf, analyst at Oddo Bhf, said

Bayer falls at the bottom of Germany's blue-chip index .GDAXI