Jury Hits Bayer with $100 Million Verdict Over PCB Controversy

A Washington jury ordered Bayer to pay $100 million to individuals sickened by toxic PCBs at a Seattle school, marking the latest courtroom challenge for the company. Meanwhile, Pfizer is reducing its stake in Haleon, as Biogen and Bayer steer away from acquisitions, and health regulations face legal battles.

In a significant legal decision, Bayer has been ordered by a Washington jury to pay a substantial $100 million to four individuals who claim to have been sickened by toxic chemicals called PCBs at a school near Seattle. The ruling marks another legal challenge for Bayer amid ongoing trials concerning alleged contamination at the Sky Valley Education Center in Monroe, Washington.

Meanwhile, Pfizer is in the process of reducing its financial involvement in Haleon, a British consumer healthcare company. According to J.P. Morgan, Pfizer is expected to sell approximately 700 million ordinary shares, thus lowering its stake from 15% to 7.3%, following Haleon's creation through a merger with GSK in 2019.

The pharmaceutical landscape sees movement beyond the courtroom as Biogen focuses on growth from new product launches rather than acquisitions to drive future revenues. Similarly, Bayer's pharmaceutical division plans to prioritize debt reduction over major acquisitions in the foreseeable future, according to statements from company executives.

(With inputs from agencies.)