Bayer chalks up 9.5 bln eur Q2 net loss after litigation settlement

Credit: REUTERS/WOLFGANG RATTAY

German drugs and pesticides group Bayer reported a 9.5 billion euro ($11.2 billion) net loss for the second quarter, following a $10.9 billion settlement of U.S. lawsuits claiming that its weedkiller Roundup caused cancer.

FRANKFURT, Aug 4 (Reuters) - German drugs and pesticides group Bayer BAYGn.DE reported a 9.5 billion euro ($11.2 billion) net loss for the second quarter, following a $10.9 billion settlement of U.S. lawsuits claiming that its weedkiller Roundup caused cancer.

Bayer on Tuesday also said earnings before interest, taxes, depreciation and amortisation (EBITDA), adjusted for special items, would be around 12.1 billion euros this year, down from a target of 12.3 billion to 12.6 billion euros issued in February.

(Reporting by Ludwig Burger; editing by Thomas Seythal)

((ludwig.burger@thomsonreuters.com; +49 69 7565 1311; Reuters Messaging: ludwig.burger.thomsonreuters.com@reuters.net))

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