Bayer AG agreed to settle U.S. lawsuits claiming that its widely-used weed killer Roundup caused cancer for as much as US$10.9 billion after more than a year of talks, resolving litigation that has hit the company's share price.
Bayer, the world's largest maker of seeds and pesticides, said U.S. farmers were unperturbed by lawsuits seeking damages from Bayer for an alleged cancer-causing effect of glyphosate-based herbicides.
United States agro-chemicals company Monsanto is facing a surge in lawsuits that may cost its new owners, Bayer, billions in damages. Monsanto manufactures glyphosate-based weed killers which some believe are carcinogenic. Last month it lost a US$ 289m court case that alleged its products Roundup and RangerPro had led to a Californian man's terminal cancer.