Daily Management Review

Bayer AG to pay over $10B to settle claims on carcinogen herbicide


The German chemical company Bayer AG has agreed to an out-of-court settlement of about 100,000 lawsuits in the United States, which accuses the company of spreading the carcinogenic herbicide Roundup.

Mike Mozart
Mike Mozart
"The company will pay a total of $ 10.1 to $ 10.9 billion to settle current and potential future claims against Roundup," the Bayer AG communique reads.

According to the company, the agreement reached means the settlement of 75% of the 125 thousand claims relating to a carcinogenic herbicide.

The world's most widely used Roundup herbicide is manufactured by Monsanto Co., which also specializes in creating GMO seeds. Since 2018, the company has been a division of Bayer Corporation.

Bayer AG, founded in 1863, represents more than 300 companies in different countries, its product range includes about 5 thousand items in the field of healthcare, plant protection products and high-tech materials.

source: bloomberg.com