Glyphosate, Bayer pulls out a 10 billion check to close the lawsuits


A plea bargain from $ 10 billion. So much will the German chemical giant Bayer cost the agreement being finalized in the United States to put an end to tens of thousands of lawsuits filed by the heirs of people who died of diseases related to the use of the Roundup herbicide, whose basic component is the sadly known Glyphosate.

It’s about a record deal even for the United States, where the judicial system somehow “facilitates” such conclusions. The German giant thus tries to put an end to a question that has dragged on for years and which, in the past, has concerned Monsanto (purchased precisely by Bayer in 2018). In fact, there is no formal recognition of the danger of glyphosate (often and willingly found also in cereal-based foods or beer), but many read in this plea agreement a sort of implicit “admission of guilt”.

Bayer, 10 billion agreement to settle 125 thousand pending cases

With the purchase of Monsanto, Bayer “inherited” all the legal proceedings concerning Roundup and Glyphosate, a chemical component believed to be carcinogenic. These are events that are several years old and, according to the president of the German group Werner Baumann, “it is the right action at the right time to conclude a long period of uncertainty “.

The plea deal signed by the German company currently concerns 125 thousand lawsuits. To close them, Bayer has agreed to pay a variable figure between 8.8 and 9.6 billion, while another 1.25 billion has been set aside in case other people adhere to the proposed agreement in the coming months. In total, as mentioned, the German giant will be able to pay almost 11 billion dollars. Out of the agreement, in fact, there are still 30 thousand lawsuits and it is not excluded that they will end in the same way. Compensations, the company says, will be paid between 2020 and 2021.

Agreement also for PCB and dicamba

However, the one concerning Glyphosate was not the only judicial agreement closed in the last few days by Bayer. The German giant has made it known that it has also reached agreements for to settle claims for water contaminated with polychlorinated biphenyls (or PCB) and for the damage to health caused by dicamba, another herbicide. In total, Bayer will drop checks for approximately $ 1.25 billion

Source link


Please enter your comment!
Please enter your name here