Stockwatch - May 2003

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Bayer's victories in the courtroom have calmed the investors' fears that the Baycol litigation could land the company in financial hot water. Share prices rocketed 40 percent after the jury in the nation's first Baycol trial in Corpus Christi, Texas found in favor of the drug maker, while stocks gained 4.1 percent following the April 25 announcement that the company had settled more suits involving alleged Baycol-related injuries. The company has already spent nearly $219 million to settle 740 cases and is still facing approximately 8,600 suits. However, Bayer reported that first quarter sales were up by …