Bayer Roundup settlement news today:
On
February 14, 2023, Bayer announced a $10 billion settlement in the Roundup
litigation. The settlement resolves around 95,000 claims that the company's
glyphosate-based herbicide Roundup caused cancer.
The
settlement includes compensation for individuals who have already been
diagnosed with non-Hodgkin's lymphoma, as well as for those who may develop the
disease in the future. The settlement also provides funding for research into
the safety of glyphosate-based herbicides.
Bayer
acquired Roundup when it purchased Monsanto in 2018. Since then, the company
has faced a mounting number of lawsuits alleging that Roundup causes cancer. In
2020, Bayer agreed to pay $9.6 billion to settle around 100,000 of these
claims.
The
settlement announced today is the largest of its kind, and brings the total
amount Bayer has agreed to pay to settle Roundup litigation to nearly $20
billion. In a statement, Bayer's CEO said the settlement "brings a long
period of uncertainty to an end" and "allows us to focus fully on the
future."
The
settlement is subject to court approval, and Bayer said it expects the process
to take several months. The company also said it plans to continue to defend
the safety of Roundup and glyphosate-based herbicides.
The use
of glyphosate-based herbicides is controversial, with some studies linking them
to cancer and other health problems. However, regulatory agencies in the US and
around the world have generally found that glyphosate is safe when used as
directed.
The
settlement is expected to have a significant impact on Bayer's finances. The
company said it will use existing liquidity to fund the settlement, and will
maintain its dividend policy. However, the company also said it may need to
adjust its financial targets for the coming years.
The
Roundup litigation has been a major issue for Bayer since it acquired Monsanto,
and the settlement announced today is a significant step toward resolving the
issue. However, it remains to be seen how the controversy over glyphosate-based
herbicides will continue to play out in the years to come.
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