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.
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