Bayer AG is anxiously awaiting its Thursday debut on the New York Stock Exchange, but the listing will come amid controversy that could impact investor relations. The German chemical and drug maker made headlines last August when the company recalled its once promising cholesterol drug, Baycol.
Today the company reported that over 100 deaths have been linked to Baycol, almost double the initial estimate. To date, the Baycol recall has cost Bayer over $700 million and analysts predict the company could face billions of dollars in compensation claims.