Bayer Making Progress in Finalizing Roundup Settlement

Reuters writer Ludwig Burger reported last week that, “Bayer boss Werner Baumann’s contract has been extended until 2024, in a show of support from the drugmaker’s new chairman just months after the company agreed an $11 billion outline settlement of U.S. lawsuits over its Roundup weedkiller.

“In a statement late Thursday [Sept. 10th], Bayer also said it was making progress in finalising the settlement of claims that Roundup and other glyphosate-based herbicides cause cancer, which Bayer inherited as part of a $63 billion takeover of Monsanto.

A judge in July raised concern about an agreement with plaintiffs’ lawyers on how to handle a class of claims that may be brought in the future, throwing the overall settlement deal into doubt.”

The Reuters article noted that, “[Norbert Winkeljohann, a former head of six European countries at auditing and consulting firm PwC] said he expected ‘the glyphosate litigation will be handled in a way that is satisfactory for the company, makes economic sense and is structured in a way that enables potential future cases to be efficiently resolved.'”

“The arrangement on future cases is unprecedented because glyphosate will remain on the market without a cancer warning, with the backing of the U.S. pesticides regulator,” the Reuters article said.

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