(TJV NEWS) Shares of German pharmaceutical and agricultural conglomerate Bayer dropped in European markets after a Georgia jury ordered the company to pay $2.1 billion in damages. The ruling came in a lawsuit filed by John Barnes, who argued that exposure to Monsanto’s Roundup weed killer led to his non-Hodgkin’s lymphoma.

On Friday, the State Court in Cobb County, Georgia, ruled in Barnes’ favor, awarding him $65 million in compensatory damages and $2 billion in punitive damages. Barnes filed the suit in 2021, alleging that the glyphosate-based herbicide caused his cancer.

“It’s been a long journey for him,” said Barnes’ attorney, Kyle Findley. “He’s grateful the truth about this product has finally come to light.” Findley described the decision as a significant moment in holding Monsanto accountable, calling it another instance of the company’s refusal to take responsibility for the harm caused by Roundup.

Bayer acquired Monsanto in 2018 and has faced a wave of litigation since, with thousands of lawsuits claiming that glyphosate, the main ingredient in Roundup, is linked to cancer. The company has set aside more than $16 billion to handle these legal challenges.

In response to the verdict, Bayer issued a statement rejecting the jury’s decision, saying it contradicts a large body of scientific research and regulatory conclusions from agencies around the world:

“We strongly disagree with the jury’s verdict, which is at odds with global scientific consensus and findings by regulatory authorities. We are confident in our grounds for appeal and will seek to overturn this decision and reduce what we see as unconstitutional and excessive damages.”

Analysts from Goldman Sachs, including James Quigley and Rajan Sharma, noted that this is the first case of its kind in Georgia and pointed out that such large awards are often reduced during appeals.

They added:

“Late Friday, after European markets closed, a Georgia jury awarded $2.065 billion in the Barnes case—$2 billion in punitive damages and $65 million in compensatory damages. While each case is unique, awards are frequently lowered during the appeal process. Bayer plans to challenge the decision. As of the end of 2024, Bayer’s legal reserves for glyphosate-related litigation stood at $5.9 billion.”

Bayer has also been lobbying U.S. lawmakers to strengthen labeling laws that could shield it from state-level lawsuits. In Georgia, a bill known as SB 144 recently passed both legislative chambers. The law stipulates that pesticides registered with the U.S. Environmental Protection Agency (EPA) and labeled accordingly fulfill the state’s requirements, potentially limiting future legal actions.

Additionally, Bayer recently secured an extension for filing the Johnson v. Bayer case with the U.S. Supreme Court, now due by April 18, 2025. According to analysts, a Supreme Court review could reshape the company’s legal outlook, with a potential decision expected in the 2025/26 session.