The German drugmaker acquired Monsanto, an agrochemical and agricultural biotechnology company, in 2018 for $63 billion. Along with it, Bayer acquired Roundup, an herbicide that thousands of plaintiffs have said caused their cancer.
Though the lawsuits are ongoing, about 93 percent of shareholders voted in favor of Mr. Baumann at the most recent shareholder meeting. He lost the vote last year, as shareholders were upset over the fallout of the Monsanto acquisition, according to Bloomberg.
The investors expressed some continued frustration that the lawsuits have yet to be resolved, but the confidence vote reflects their patience with Bayer’s efforts to resolve the litigation, Bloomberg reported.
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