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Bayer proposes US$10.25 billion plan for all Roundup cancer cases
Bayer aims to resolve over 65,000 claims with a $7.25 billion fund plus $3 billion for related cases, reducing litigation uncertainties amid upcoming Supreme Court review.
- On Tuesday, Bayer and attorneys announced a proposed $7.25 billion settlement in St. Louis Circuit Court, seeking judge approval to resolve thousands of U.S. lawsuits alleging Roundup caused cancer.
- After years of litigation following Bayer's 2018 acquisition of Monsanto, mounting legal costs have threatened Bayer's ability to sell Roundup, while an imminent U.S. Supreme Court dispute over EPA preemption looms.
- Payments are scheduled over 21 years with the bulk in the first five; Bayer has resolved more than 130,000 claims but still faces 65,000 pending suits.
- Investors responded by lifting Bayer's shares even as the company expects to pay an additional $3bn in separate Roundup cases, and the proposal would reduce some Supreme Court risk with support from key plaintiffs' groups.
- Bayer CEO Bill Anderson said, `This doesn't work unless there is closure,` citing regulatory disputes over glyphosate's carcinogenic classification by IARC, which Bayer disputes.
114 Articles
114 Articles
Bayer Agrees to $7.25B Roundup Settlement Plan
Agrochemical maker Bayer and attorneys for cancer patients announced a proposed $7.25 billion settlement Tuesday to resolve thousands of US lawsuits alleging the company failed to warn people that its popular weedkiller Roundup could cause cancer. The proposed settlement comes as the US Supreme Court is preparing to hear...
Monsanto, plaintiffs seek $7.25B settlement over Roundup cancer claims
Monsanto and thousands of people suing the company alleging its Roundup weedkiller caused them to develop cancer have reached a $7.25 billion settlement agreement. The proposed class action agreement would cover both current and future claims for people who were exposed to Monsanto’s Roundup and developed non-Hodgkin lymphoma. The settlement is not final; it would…
Bayer’s Monsanto Proposes $7.25 Billion Deal to Settle Roundup Cancer Claims
German-based agrochemical company Bayer said on Feb. 17 that its Monsanto subsidiary has submitted a proposed $7.25 billion class‑action settlement over thousands of Roundup cancer lawsuits. Bayer stated that it would implement a long-term claims program funded by capped annual payments for up to 21 years, “following court approval.” It will be submitted to the Circuit Court of the City of St. Louis. The settlement is aimed at resolving current …
On Tuesday, the German agrochemical giant Bayer announced that he had agreed to a financial agreement to settle disputes over the Roundup. Glyphosate herbicide is accused of being carcinogenic. The collective agreement, which still needs to be approved by an American court, can reach $7.25 billion. - Roundup: Bayer will pay more than €6 billion to settle disputes related to its herbicide (International).
The Mercury news
Bayer agrees to $7.25B proposed settlement over thousands of Roundup cancer lawsuits
Bayer, which acquired Roundup maker Monsanto in 2018, disputes the assertion that the weedkiller’s key ingredient, glyphosate, can cause non-Hodgkin’s lymphoma.
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