From the Wall Street Journal via MSN, August 4:
Bayer swung to a net profit for the second quarter after it booked smaller litigation charges, and said it is making progress toward its goal of resolving legal challenges.
The German agriculture and pharmaceutical conglomerate said Tuesday that net profit was 219 million euros, equivalent to $252.1 million, compared with a loss of 199 million euros for the same period last year, when its results were hit by litigation charges.
The company said it booked special charges, mainly due to litigation-related expenses, of 172 million euros, compared with 981 million euros a year before.
The results come weeks after the U.S. Supreme Court ruled in Bayer’s favor in a long-standing case related to its Roundup weedkiller.
“Overall, our containment strategy is in a strong place,” Chief Executive Bill Anderson said....
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