Bayer earmarks $10 billion to settle 125,000 Roundup cancer lawsuits
Agrochemical company Bayer AG has reached verbal agreements to settle a portion of the estimated 125,000 lawsuits involving its marquee herbicide Roundup, Bloomberg reports. The company has set aside $10 billion to wind down the protracted legal battle around the weedkiller, per insiders privy to negotiations, with payouts ranging from a few thousand to millions of dollars, depending on the case. In recent years, tens of thousands of lawsuits have been filed against Bayer, alleging that Roundup’s key ingredient, glyphosate, causes the development of non-Hodgkin’s lymphoma and other cancers. Both Bayer and the EPA maintain that the chemical is non-carcinogenic, though multiple juries have ruled in favor of plaintiffs suing the company. These settlements will require plaintiff’s attorneys to stop taking new Roundup cases or advertising for new clients. Read the full story here.