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Bayer will pay between $10.1 billion and $10.9 billion to settle lawsuits over the weed killer Roundup, whose main ingredient glyphosate allegedly causes cancer. In order to finance these payments which are subject to tax treatment, Bayer can make use of existing surplus liquidity, future free cash flows, the proceeds from the Animal Health divestment, and additional bond issuances, which will provide flexibility in managing the settlement payments as well as upcoming debt maturities. Some won’t care, BUT some WILL!! bayer got off way too cheap. The resolutions were approved unanimously by Bayer’s Board of Management and Supervisory Board with input from its Special Litigation Committee. Agricultural crops genetically engineered to withstand glyphosate have greatly expanded the use of the chemistry since 1996.

Bayer officials say potential future cases will be governed by a class agreement which is subject to court approval. At the same time, deleveraging the balance sheet remains a high priority, said Bayer officials. “It was misinterpreted that we were looking to replace glyphosate with something else,” said Condon last fall. All Rights Reserved. Plan B is a settlement. Bayer says the payment will resolve current and future potential Roundup litigation. One agreement establishes a class that includes all local governments with EPA permits involving water discharges impaired by PCBs. Bayer-Monsanto have announced that the company will make a total payment of $10.1 billion to $10.9 billion (€9.1 billion to €9.8 billion) to settle the non-Hodgkin’s Lymphoma Roundup litigation in the U.S.. Roundup is the most sold glyphosate-based herbicide in the world. Belgium’s Superior Health Council Call for Phase-Out of Glyphosate HerbicidesThe only way to stop Bayer- Monsanto’s utter stupidity is to shut this poison business down and lock up these poison producers.‘Our Mission Now Is to Bring the Benefits of Bone Broth Back into The American Diet’ – Justin MaresBayer Inks Deals with Three Roundup Cancer Law Firms as Settlement ProgressesBayer will earn back the $10b in year one. Monsanto/Bayer Glyphosate Cancer Settlement Agreement Reached A Federal Judge must still approve the terms offered by Bayer that may include limiting future lawsuit awards to a fixed amount, and not all attorneys have signed on. If the Class Science Panel determines that a causal connection between Roundup and NHL is not established, class members will be barred from claiming otherwise in any future litigation against the company. For these agreements, which are separate from the class, Bayer will make payments that together total approximately $170 million. We are one of the world leaders in agribusiness and poison consumption. There is a major drama playing out in farm country involving glyphosate, the broad-spectrum systemic herbicide and … Bayer officials say the firm stands strongly behind the safety and utility of its XtendiMax herbicide with VaporGrip technology and continues to enhance training and education efforts to help ensure growers use these products successfully.

© 2020 Meredith Corporation. At what point will enough further litigation pile up that warrants the products removal from the market? The agreement includes the establishment of a class of potential future plaintiffs and the creation of an independent Class Science Panel. “A settlement only makes sense if the cost of settling is lower than the cost of going through the court system, and if it is final. USDA Deputy Secretary Censky to return to American Soybean Association Several trials since 2018 have gone the way of plaintiffs suing Bayer, starting with an August 2018 case in which a San Francisco jury awarded $289 million to school groundskeeper Dewayne Johnson, although that award was reduced to  $78 million and is on appeal. The company expects a contribution from its co-defendant, BASF, towards this settlement.At the same time, the company has entered into separate agreements with the Attorneys-General of New Mexico, Washington, and the District of Columbia to resolve similar PCB claims. It is financially reasonable when viewed against the significant financial risks of continued, multiyear litigation and the related impacts to our reputation and to our business. To see all exchange delays and terms of use, please see Glyphosate… Copyright © 2012-2020 Sustainable Pulse - All rights reserved. “In these types of cases, it usually makes sense to look at a settlement,” Condon said. My immune system was killed off and I get monthly infusions of immune globulin for the rest of my life. Why is this already not enough?

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