Bayer AG (OTCMKTS: BAYRY) reached a $2 billion agreement to resolve all future Roundup litigations claiming that its weedkiller product causes cancer.
The German multinational pharmaceutical and life sciences company acquired Monsanto, the maker of Roundup in 2018. It is now selling Monsanto’s products including the weedkiller under the Bayer brand.
During the same year, Monsanto lost a case in San Francisco, California involving Roundup. A jury awarded $289 million to a groundkeeper named Dewane Johnson who claimed that the weedkiller caused his non-Hodgkin’s lymphoma, cancer that attacks the white blood cells.
Since then, multiple U.S. consumers filed lawsuits against Bayer. The plaintiffs claimed that Roundup caused their sufferings due to cancer. In June 2020, the company agreed to pay more than $10 billion to settle thousands of lawsuits under a multi-step agreement.
Details of the class plan to resolve future Roundup litigations
On Wednesday, Bayer inked a deal with plaintiffs’ class counsel regarding a class plan to manage and resolve future Roundup litigations.
