Bayer announced on Thursday that it had won an appeal in the USA in a case involving exposure to PCBs issued by its subsidiary Monsanto, a decision that boosted its share price in Frankfurt.

The German chemical giant said that the Washington State Court of Appeals had completely overturned an initial verdict, which had previously ordered it to pay $185 million.

The case, known as 'Erickson v Monsanto', has been remanded back to the trial court for further proceedings.

The complaint came from several teachers and employees of the Sky Valley Education Center, a public school based in Monroe (Washington), who believed they had been victims of exposure to PCBs, polychlorinated biphenyls (PCBs) that can cause cancer.

From Bayer's point of view, the debates demonstrated that the PCB concentrations measured in the air were well below regulatory health limits and the levels set by state and federal authorities.

Bayer emphasizes that there is no evidence that such exposure to PCBs caused or has caused the damage described by the plaintiffs.

Following the favorable court ruling, Bayer shares climbed 5% around 10:30 a.m., making them the biggest gainer on the DAX index and one of the biggest on the pan-European STOXX 600 index.

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