(Photo courtesy org.au)
When Bayer acquired agricultural biotechnology company Monsanto in June 2018, they knew they were getting the world’s best-known weedkiller: Roundup. What Bayer couldn’t anticipate was the 125,000 lawsuits that came with it, claiming that Roundup’s key ingredient, glyphosate, causes cancer.
Yesterday, Bayer agreed to pay more than $10 billion to settle tens of thousands of claims. Individuals, depending on the strength of their cases, will receive payments of $5,000 to $250,000.
Bayer isn’t out of the weeds yet. There are still at least 25,000 unresolved claims, so they’re also setting aside $1.25 billion for future litigation.
Bayer said the settlement agreements “contain no admission of liability or wrongdoing.” The company will continue to sell Roundup without adding warning labels about its safety because it stands by previous assertions that it’s safe when used as directed.