On Feb. 17, Bayer announced a proposed $7.3 billion class settlement to settle current and potential future cases in litigation against its glyphosate-based Roundup weedkiller.
Under the settlement, the company will make capped annual payments that decline over time, spread out over a period of up to 21 years.
“Litigation uncertainty has plagued the company for years, and this settlement gives the company a road to closure,” said Bayer CEO Bill Anderson in an investor update. “This is a move to liberate the company from the litigation burden so our people can dedicate resources to cell and gene therapies, drought-resistant seed hybrids, and better ways of taking care of everyday health.”
