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Bayer to pay $10B to settle cancer suits
© WikiMedia (Sebastian Rittau)
Bayer to pay $10B to settle cancer suits

Life sciences company Bayer announced a series of agreements Wednesday to resolve outstanding litigation, including a total payment of $10.1 billion to $10.9 billion to resolve current and address potential future Roundup litigation.

Bayer bought Monsanto, the company that owned the herbicide Roundup, in 2018. In 2018 Monsanto lost a lawsuit in which the plaintiff claimed that Roundup caused his cancer. Following this decision, thousands of lawsuits were filed against Bayer.

The agreements announced on Wednesday will end approximately 125,000 filed and unfiled claims against Bayer for Roundup. Between $8.8 billion and $9.6 billion will be used to resolve current litigation, and $1.25 billion will be part of a separate class action for future claims. Those participating in the settlement will have to agree to dismiss their cases or agree not to file. Potential future actions will be governed by a class agreement, subject to court approval. There were three cases that have gone to trial regarding Roundup, but those will not be subject to the agreement.

Bayer also announced agreements to pay up to $400 million to resolve the dicamba drift litigation that involved alleged damage to crops, as well as agreements to pay $170 million to end water litigation.

The class agreement for future potential litigation will need to be approved by Judge Vince Chhabria of the US District Court for the Northern District of California. Cash payments related to the settlements are expected to begin in 2020.