Bayer expects significant surge in number of U.S. glyphosate cases
Bayer expects the number of claims in the United States related to Roundup herbicide to have surged in the third quarter, as the German drugs and pesticides maker tries to reach a settlement after earlier court rulings against it.
"With the substantial increase in plaintiff advertising this year, we expect to see a significant surge in the number of plaintiff filings over the third quarter," the company said in a written statement.
Bayer, which acquired Roundup and other glyphosate-based weed killers as part of its $63 billion takeover of Monsanto last year, faces potentially heavy litigation costs as plaintiffs claim Roundup causes cancer, something Bayer disputes.
Bayer's shares have lost about 30% of their value since last August when a California jury in the first such lawsuit found Monsanto should have warned of the alleged cancer risks.
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"With the substantial increase in plaintiff advertising this year, we expect to see a significant surge in the number of plaintiff filings over the third quarter," the company said in a written statement.
Bayer, which acquired Roundup and other glyphosate-based weed killers as part of its $63 billion takeover of Monsanto last year, faces potentially heavy litigation costs as plaintiffs claim Roundup causes cancer, something Bayer disputes.
Bayer's shares have lost about 30% of their value since last August when a California jury in the first such lawsuit found Monsanto should have warned of the alleged cancer risks.
Click Here to read more.