Global chemical giant Bayer's share values are up 40%, outpacing rivals BASF and Corteva.

Reporting in the Wall Street Journal, the strong results appear to vindicate Bayer's purchase of Monsanto in 2018 for $63bn (£50.26bn). The aftermath of that deal saw a wave of law suits on Monsanto’s Roundup herbicide, which caused Bayer's market value to plummet by 40%. Some on Wall Street said it was among the worst corporate takeovers in years.

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However this year the company is going from strength to strength, despite Roundup litigation still in process. The crop science unit reported sales up 22% to $9.07 bn (£7.23bn) thanks to higher prices for herbicides, seed and other products. By comparison its non-farming pharmaceutical division performed more modestly with sales rising only 2.6%.

Bayer’s herbicide and particularly glyphosate production was the biggest driver to the crop-science division’s strong performance. Production and energy disruptions slowed output of glyphosate from China, pushing prices higher. China produces about 60% of total global output, and Bayer is responsible for the rest. The produce is still widely used globally despite court cases. Bayer are believed to have ear market $16bn (£12.75bn) for litigation.