Registration was successful!
Please follow the link from the email sent to

Bayer to Pay Over $10 Billion to Settle Lawsuits Over Monsanto's Weedkiller

© AFP 2021 / JOHN MACDOUGALLThis file photo taken on July 24, 2013 shows a logo of German pharmaceuticals and chemicals giant Bayer on an overpass at its Berlin headquarters
This file photo taken on July 24, 2013 shows a logo of German pharmaceuticals and chemicals giant Bayer on an overpass at its Berlin headquarters - Sputnik International
Subscribe
MOSCOW (Sputnik) - German pharma giant Bayer said Wednesday it will pay up to $10.9 billion to settle a raft of lawsuits against its US affiliate Monsanto's weedkiller Roundup, accused of causing cancer.
"Company will make a total payment of $10.1 billion to $10.9 billion... to resolve current and address potential future Roundup litigation", a statement read.

Bayer bought Monsanto, a herbicide and genetically modified seed producer, in 2018, three years after the first lawsuits were filed.

“First and foremost, the Roundup™ settlement is the right action at the right time for Bayer to bring a long period of uncertainty to an end”, Werner Baumann, Chief Executive Officer of Bayer, said.

The German company said $8.8 billion to $9.6 billion will be paid to settle 75 percent of some 125,000 filed and unfiled claims, with the rest going to support a separate class agreement to address potential future litigation.

Bayer stressed that the settlement does not equal admission of liability or wrongdoing and maintains that the glyphosate-based weedkiller has been scientifically proven to be safe.

Newsfeed
0
To participate in the discussion
log in or register
loader
Chats
Заголовок открываемого материала