The number of U.S. lawsuits brought against Bayer’s newly acquired Monsanto has jumped to about 8,000, as the German drugmaker braces for years of legal wrangling over alleged cancer risks of glyphosate-based weedkillers.
Bayer had previously disclosed 5,200 such lawsuits against Monsanto, which it acquired in a $63 billion deal completed in June.
“The number of plaintiffs in both state and federal litigation is approximately 8,000 as of end-July. These numbers may rise or fall over time but our view is that the number is not indicative of the merits of the plaintiffs’ cases,” Bayer Chief Executive Werner Baumann told analysts in a conference call on [August 23rd].
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CEO Baumann reiterated Bayer’s view that the jury’s verdict on Aug. 10 was inconsistent with the science-based conclusions of regulators.
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Bayer said it will initially petition the judge to reverse the jury’s verdict from Aug. 10, and “if necessary” challenge the ruling with California appellate courts, which will take at least a year.
When asked whether Bayer would consider settling cases out of court, he said: “We will vigorously defend this case and all upcoming cases.”
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