With a billion-dollar comparison, Bayer wants to make the most of its legal problems in the USA. A total of more than ten billion Euro ahead of the agreement with numerous US-cost claimants, informed the agricultural chemical and pharmaceutical group on Wednesday evening in Leverkusen. This is mainly to alleged cancer risk of the weed ester Roundup destroy with the active ingredient glyphosate. By the compromise of 75 percent of the current Roundup to Bayer, according to procedures to be completed – with a total of about 125 000 submitted and non-submitted claims. The rest of the process should come within the next few months.
Bayer is prepared to pay a total of 10.1 billion to 10.9 billion US dollars (9.1 billion to 9.8 billion Euro). Thus, the vast majority of the many glyphosate to manage process in the United States from the world, and at the same time, the threat of legal risks in the future, be prevented. In sum, a lump sum, with the claims intended to be covered, which are not yet settled, as well as a 1.25 billion Dollar (1.1 billion Euro), in order to allow a separate agreement for potential future actions is included.
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The step was not an admission of guilt, but the most reasonable solution for the company, said CEO Werner Baumann in a telephone conference with journalists in the evening. They wanted to look forward and concentrate on the core business. On offered products or the future use of glyphosate, the agreement should have no direct impact, it said.
A further agreement in cases of Dicamba and PCBS
The group achieved in the course of the compromise reached in other U.S. cases, the concern about the controversial weed killer Dicamba. Methods to get rid of due to drifts of this herbicide, and thereby allegedly caused damage to the crops, Bayer will pay according to their own details up to $ 400 million (354 million euros). In the event of a court in Missouri bundled actions are the harvest years 2015 to 2020. Bayer expect a contribution of the mitverklagten competitor BASF to this comparison.
Further, approximately $ 820 million (728 million Euro) wants to take Bayer in the Hand, the essential part of the proceedings in the US because of the Umweltgifts PCB enclosed. This is with the chemical-infested waters. Plaintiff had US in the meanwhile to Bayer belonging to the company Monsanto, accused of the devastating consequences of toxic pollutants for nature and living beings concealed. Monsanto had been from 1935 to 1977, the only manufacturer of Polychlorinated Biphenyls (PCBS) in the United States. In 1979, the chemical was banned. In Germany, this is since the end of the 1980s.
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The expensive legal costs, Bayer is now in purchase to make a clean sweep, are due to the Acquisition of the US seed giant Monsanto. The Leverkusen Dax-group had brought to 2018 with the 60-billion-Dollar purchase of the company’s immense legal risks associated with glyphosate and other agricultural products into the house. After Bayer had conceded in the first three glyphosate-processes in the United States high damages verdicts, accused, more and more people to the group, through the use of Monsanto’s killer Weed to get cancer.
Bayer glyphosate is a “safe product”
The actions are based on an evaluation of the WHO cancer research Agency IARC, glyphosate 2015, in contrast to other authorities – as “probably carcinogenic” for humans was classified. The Leverkusen rejected the accusations always got back from the US environmental protection Agency EPA, the glyphosate in the case of provision does not consider moderate use as a health risk. The appeal processes to the three already conceded a conviction in the United States to run in spite of the comparison further.
With a view to potential future glyphosate-cases an independent science panel should be formed, according to Bayer. To decide whether and, if so, at what dose, a Roundup of the lymph glands, cancer can cause. Plaintiffs and Bayer were then tied to it.
The glyphosate-wave of lawsuits had been brought by Bayer on the stock market under pressure and the group management Board Chairman Werner Baumann in the criticism. You could be annoyed while about to have a really safe product a huge amount of money application, said Baumann after the promulgation of the comparison. “I’m very relieved that we can leave this period of uncertainty is now behind us.”
Bayer shares to the value of
Financially, the group is well positioned: only the sale of veterinary medicine to bring in Bayer 7.6 billion dollars – most of it in cash, and a smaller part in shares of the buyer Elanco. With the payments from Bayer to begin later this year. For investors, the agreement with U.S. plaintiffs caused a relief – Bayer’s shares gained after trading hours, first of almost six percent.
The Greens took the agreement, however, on occasion, to advertise again for a quick, a national ban on glyphosate for private consumption. The coalition agreement promised exit must finally be driven, urged the Chairman of the Greens in the Bundestag, Harald Ebner. “The comparison agreement to glyphosate clearly shows: The toxic legacy of Monsanto comes Bayer dearly.”
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