Bayer chalks up 9.5 billion euro second quarter net loss after litigation settlement

FRANKFURT (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.

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