Facing escalating legal costs defending Monsanto’s Roundup, Bayer invests $5.6 billion in alternative herbicide research

bayer

Germany’s Bayer sought to repair its reputation on [June 14] after damage caused by U.S. litigation over claims its glyphosate pesticide causes cancer, saying it would invest 5 billion euros ($5.6 billion) in weedkiller research.

Bayer’s shares hit seven-year lows after a California couple was [in May] awarded more than $2 billion in the largest-ever U.S. jury award over claims that glyphosate-based weedkiller Roundup, which the German life sciences group acquired when it took over Monsanto, causes cancer.

As well as saying it would invest 5 billion euros in research over the next ten years, Bayer promised to reduce its environmental impact by 30% through 2030 via measures such as more precise and more sparing application of crop chemicals.

Related article:  French regulators launch re-evaluation of glyphosate products

Read full, original article: Bayer to invest $5.6 billion in weedkiller research to help reputation

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