FRANKFURT, (Germany): German agrochemical giant Bayer said Tuesday its subsidiary Monsanto had proposed a class settlement of up to USD7.25 billion to settle claims that the Roundup weedkiller causes blood cancer, potentially drawing a line under years of costly litigation.
Under the proposed agreement, Monsanto would make a series of declining annual payments for up to 21 years, Bayer said, adding that the deal still required court approval.
Bayer has spent more than USD10 billion settling thousands of cases linked to Roundup since it acquired its producer, the US agrochemical group Monsanto, in 2018.
The International Agency for Research on Cancer considers glyphosate, one of Roundup’s ingredients, a probable human carcinogen, but Bayer says scientific studies and regulatory approvals show the weedkiller is safe.
The US Supreme Court in January agreed to hear Bayer’s appeal against an award of USD1.25 million to a Missouri man who claimed Roundup was responsible for his blood cancer.
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