Bayer has been hit with a significant setback in its ongoing Roundup-related lawsuits, as a US court ruled that the herbicide glyphosate causes cancer. The verdict, which is one of the largest issued in a Roundup case, includes $65 million in compensatory damages and $2 billion in punitive damages.
The company acquired Roundup as part of its 2018 acquisition of Monsanto for $63 billion. Over 60,000 cases are pending, with Bayer setting aside $5.9 billion to cover potential damages.
Bayer has expressed disagreement with the verdict, citing the overwhelming weight of scientific evidence and regulatory body consensus worldwide. However, it has vowed to appeal the decision and eliminate or reduce excessive damage awards.
Notably, damages in cases that have reached final judgments have been reduced by 90% compared to original jury awards, indicating a trend towards lower payouts for Roundup-related claims. This verdict is the latest in a long line of setbacks for Bayer, one of the world’s largest seeds and pesticides makers.
Source: https://economictimes.indiatimes.com/news/international/business/us-state-orders-bayer-to-pay-2-billion-in-roundup-cancer-case/articleshow/119350109.cms?from=mdr