Bayer proposes $7.2 billion settlement to resolve Roundup weedkiller cases
Bayer | MGN
Bayer said on Tuesday that its Monsanto chemical subsidiary has proposed a $7.25 billion settlement to resolve lawsuits by customers alleging that its Roundup weedkiller product caused non-Hodgkin lymphoma.
If the settlement wins court approval, Monsanto would make annual payments for up to 21 years. People diagnosed with non-Hodgkin lymphoma who were exposed to Roundup before the proposed legal remedy was announced on Tuesday can file a claim to receive payments, according to Reuters.
Non-Hodgkin lymphoma is a type of cancer that develops in white blood cells called lymphocytes, which are part of the body’s infection-fighting immune system.
Bayer said in a statement that the agreement does not include any admission of liability or wrongdoing. Bayer said these resolutions will increase its litigation liability from 7.8 billion euros ($9.2 billion) to 11.8 billion euros ($13.9 billion).
Bayer, a German agricultural and pharmaceutical company, also said Tuesday that it had reached agreements to resolve other Roundup-related cases. The terms of those additional settlements were not disclosed.
Bayer has faced thousands of lawsuits linked to Roundup since it bought Monsanto in 2018 for $63 billion. In 2020, Bayer announced it would pay up to $10.9 billion to settle some 125,000 filed and unfiled claims. Three years later, a jury awarded a California man $332 million after deciding that Monsanto had failed to adequately warn consumers about the risks of using Roundup.
Roundup is still available for sale online and from other major retailers. Bayer maintains that Roundup products are safe and that their ingredients have been thoroughly tested and reviewed.
