Bayer said Wednesday that it will pay up to $10.9 billion to settle litigation over the weedkiller Roundup, which has faced thousands of lawsuits over claims it causes cancer.
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A decision made long ago is finally moving toward execution as Bayer Crop Science has formally disclosed plans to move 500 jobs from RTP to St. Louis following the closing of its multi-billion-dollar merger with Monsanto.
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A federal jury has awarded $80 million to a California man after determining that Monsanto’s popular weedkiller, Roundup, was a substantial factor in causing his cancer, and that the corporation is liable. Bayer, which bought Monsanto, says it will appeal.
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Shares in Germany’s Bayer have plunged after a U.S. jury found the Roundup weed killer was a substantial factor in a California man’s cancer — the second case that has gone against manufacturer Monsanto, acquired by Bayer last year.
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Germany’s Bayer AG, which bought Monsanto Co. last year, is underlining its determination to fight cases involving the U.S. company’s Roundup weed-killer in the face of more than 11,000 lawsuits so far.
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The Monsanto verdict demonstrates that agrochemical businesses need to urgently start reinventing themselves as being in the business of controlling weeds, and not just agrochemical supplies.
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Bayer AG has agreed to the U.S. government’s demand that it sell about $9 billion in agriculture businesses as condition for acquiring Monsanto.
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U.S. Food and Drug Administration researchers have found a weedkiller linked to cancer in a variety of common foods, according to a report in the British newspaper, The Guardian.
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