Dow Jones: Bayer May Settle Roundup Lawsuit for $10 Billion
As Bayer continues its mitigation to reach a settlement, Dow Jones is reporting the company could settle its glyphosate (Roundup) legal cases for a sum around $10 billion. A settlement would mean the end of the company’s legal battles concerning glyphosate.
Bayer, who bought the inventor of glyphosate, Monsanto, is dealing with under 50,000 plaintiffs who claim the product has caused cancer. So far, the company has lost three glyphosate trials—with some pending appeal outcomes.
The company recently said it would consider a settlement that is “financially reasonable and represents finality [for future and current cases],” according to Liam Condon, president of Bayer Crop Science, in a previous interview with AgWeb.
In regard to the potential $10 billion settlement, Bayer provided this statement:
“There is no settlement and the mediation process is continuing diligently and in good faith to explore resolution under the auspices of Ken Feinberg. There also is no certainty or timetable for a comprehensive resolution.”
The lawsuits cite a study by the World Health Organization’s International Agency for Research on Cancer (IARC) that labeled glyphosate as “probably carcinogenic.” The study by IARC in 2015 found evidence glyphosate can cause cancer in lab animals and stated there is “limited evidence” that the product can cause non-Hodgkins lymphoma and lung cancer in humans.
However, IARC’s findings are sharply contested by many research agencies. There are more than 800 studies that claim glyphosate is safe when users follow label directions. In May 2019, EPA announced findings from its 2017 human health risk assessment that said there was no public health risk from the chemical.
Source: Sonja Begemann, AgWeb.com
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