Bayer reaches verbal settlement in up to 85,000 glyphosate-cancer suits for estimated $10 billion

, | | May 26, 2020
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Credit: Reuters
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Bayer AG has reached verbal agreements to resolve a substantial portion of an estimated 125,000 U.S. cancer lawsuits over use of its Roundup weedkiller, according to people familiar with the negotiations.

The deals, which have yet to be signed and cover an estimated 50,000 to 85,000 suits, are part of a $10 billion Bayer plan to end a costly legal battle the company inherited when it acquired Monsanto in 2018 …. While some lawyers are still holding out, payouts for settled cases will range from a few million dollars to a few thousand each ….

Bayer is likely to announce the settlements, which need approval from the company’s supervisory board, in June, people familiar with the negotiations said. None of the deals are signed, though plaintiffs’ lawyers are expected to do so the day of the announcement, the people said.

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Bayer has said it will earmark $8 billion to resolve all current cases …. according to some of the people familiar with the settlements …. Another $2 billion will be set aside to cover future suits linking the weedkiller to non-Hodgkin’s lymphoma ….

Under terms of the deals, Roundup will continue to be sold in the U.S. …. and plaintiffs’ attorneys will agree to stop taking new cases or advertising for new clients ….

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