German chemical-pharmaceutical giant Bayer prepares to pay billions in settlements over lawsuits linked to its Roundup herbicide.
Bayer’s Settlement Plans
German chemical-pharmaceutical giant Bayer is preparing to pay billions of dollars more in connection with lawsuits over the effects of using its Roundup herbicide. According to Gazeta Wyborcza, citing Bloomberg, the total value of settlements planned by the corporation could reach up to approximately $10.5 billion, or about 37.6 billion Polish złoty.
As reported by media, this could be a breakthrough in one of the most prominent legal battles of recent years. Who may receive compensation for Roundup and what does the agreement with Bayer entail?
Fatal Monsanto Purchase? Legal Battles of the Leverkusen Giant
The corporation’s problems began shortly after its 2018 acquisition of American company Monsanto for about $63 billion – reports GW. With the purchase, Bayer also assumed responsibility for thousands of lawsuits related to the Roundup product, a popular herbicide containing glyphosate.
Does Glyphosate Cause Cancer? Roundup and Non-Hodgkin’s Lymphoma Allegations
Some users of the product claim that long-term exposure to glyphosate contributed to the development of non-Hodgkin’s lymphoma, a malignant tumor of the lymphatic system. Bayer disagreed with these allegations and consistently emphasized that numerous regulatory institutions worldwide recognize the substance as safe when used according to recommendations.
Despite this, the wave of lawsuits in the United States grew, and the court cases negatively affected the company’s stock market listings. It is worth noting that the disputes concern the American market, but Roundup is available in Poland.
Who Will Receive Compensation? $7.5 Billion for Collective Settlements in the USA
According to media reports, Bayer has now changed its approach to the problem. It plans a comprehensive settlement covering both ongoing proceedings and potential future claims. The largest portion of the funds – about $7.5 billion – would be allocated for a collective settlement concerning cases before the state court in Missouri.
The settlement would cover current plaintiffs and individuals who may file lawsuits within the next 20 years.
Additional Compensation for Individual Cases
The corporation’s expenses do not end there. Bayer additionally plans to allocate about $3 billion for individual settlements in cases ongoing in the US – reports the service. These mainly concern former Roundup users who attribute the herbicide to causing them non-Hodgkin’s lymphoma.
67,000 Active Lawsuits. How Much Has Bayer Already Spent on Roundup Cases?
According to information from Bloomberg, Bayer has paid approximately $10 billion to date in previous judgments and settlements related to Roundup. Despite this, the company still faces about 67,000 active claims in the United States.
The planned settlement worth over $10 billion could significantly limit the company’s legal and financial risks, while ending the long-standing dispute over glyphosate’s safety. The final terms of the agreement and court decisions will be crucial for the future of one of the world’s largest chemical firms.