Bayer Posts More Than $12B Earnings But Reports Net Loss

Bayer Posts More Than $12B Earnings But Reports Net Loss

The German pesticides and drug manufacturer, Bayer Group, posted a net loss of $11.2 billion 

(Approximately 9.5 billion euro) for the April-June quarter of 2020. The loss is followed by the US lawsuits settlement of $10.9B with the company. 

On Tuesday, the pharma firm reported that the EBITDA (Earnings before interest, tax, depreciation, and amortisation) for the current year will be more around 12.1 billion euro, adjusted for special items. The earning is less than the target set by the company in February 2020 of 12.3B to 12.6B euros.

The US lawsuits claim that the company’s Roundup, popular weed killer, causes cancer. 

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