Bayer reaches agreement in 125,000 US cancer lawsuits


Bayer has reached verbal agreements to resolve a substantial portion of an estimated 125,000 US cancer lawsuits over use of its Roundup weedkiller, according to sources.

The deals, which have yet to be signed and cover an estimated 50,000 to 85,000 suits, are part of a $10 billion (€9.1 billion) Bayer plan to end a costly legal battle the company inherited when it acquired Monsanto in 2018, sources said.

While some lawyers are still holding out, payouts for settled cases will range from a few million dollars to a few thousand each, said the sources.

Claims

A surge in Roundup claims, along with some big court losses, have weighed on Bayer since the Leverkusen, Germany-based company spent $63 billion to buy agricultural giant Monsanto – which developed the weedkiller.

The shares have dropped about 40 per cent since the deal closed two years ago, wiping out some $39 billion of Bayer’s market value. The shares gained as much as 4.6 per cent Monday, according to Tradegate.



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