Bayer takes ‘tougher stance’ in glyphosate-cancer settlement talks amid COVID-19 financial strain

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Credit: Reuters

Bayer said the economic downturn and the need to preserve cash means it is taking a tougher stance in talks to settle claims over accusations that its glyphosate-based weedkillers cause cancer, even as its earnings rose.

The pandemic has significantly slowed the mediation process, the German drugs and pesticides company said in a statement on [April 27].

“The company will consider a deal only if it is financially reasonable and puts in place a mechanism to resolve potential future claims efficiently,” Chief Executive Werner Baumann said.

“The economic environment could be a catalyst here,” said Ingo Speich, a fund manager at mutual fund firm Deka Investment. “It will certainly not be easier for Bayer to agree to an expensive settlement. That should also be clear to the plaintiffs,” he added.

Related article:  Indian state Maharashtra waiting on federal government to ban sale of glyphosate herbicide

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