Bayer AG, after more than a year of talks, agreed to pay as much as $10.9 billion to settle close to 100,000 U.S. lawsuits claiming that its widely-used weedkiller Roundup caused cancer, resolving litigation that has pummeled the company’s share price, Reuters reported. The German drugs and pesticides maker has come to terms with about 75 percent of the 125,000 filed and unfiled claims overall, it said in a statement yesterday of the deal to end legal disputes it inherited with its $63 billion takeover of Monsanto in 2018. The settled cases over Roundup and other glyphosate-based weedkillers account for about 95% of those currently set for trial, it added. The company said it will make a payment of $8.8 billion to $9.6 billion to resolve the current Roundup litigation — including an allowance expected to cover unresolved claims — and $1.25 billion to support a separate class agreement to address potential future litigation. Read more.
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