The Bayer group secured an important victory before the US Supreme Court on Thursday. The ruling strengthens the company's position in the glyphosate legal dispute.
The Supreme Court ruled on Thursday that federal approval requirements take precedence over the laws of individual states. This removed the basis for thousands of lawsuits over allegedly insufficient cancer warnings.
Bayer had argued that the EPA classifies the active ingredient as non-carcinogenic. The company had acquired the US firm Monsanto in 2018 for 63 billion dollars and inherited its legal issues.
Bayer shares rose as much as 20 percent to 47.50 euros on Thursday and closed up 18.7 percent. It was the company's best trading day since 2003.
