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Bayer AG has resolved about 88,500 of an estimated 125,000 filed and unfiled claims against its Roundup weedkiller, prompting US court-appointed mediator Kenneth Feinberg to report that the company had made substantial progress.
Feinberg noted that it is just a question of when and how quickly they’ll get resolved.”
The German company said it is fully committed to settling the litigations concerning the carcinogenic properties of Roundup.
Bayer inherited liability for the lawsuits over glyphosate-based Roundup, which it acquired along with its purchase of Monsanto for $63 billion in June 2018.
The acquisition made Bayer the world’s largest supplier of seeds and pesticides but its shares have since fallen 54 percent.
Bayer lost three trials for Roundup in 2018 and 2019.
In June, the company projected it would pay up to $10.9 billion to resolve existing claims and $1.25 billion for future claims. Last week, it increased the projected cost of future claims to $2 billion and took a $10.9 billion writedown in its crop science business.
