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Bayer’s cross symbol hangs in a terminal at Frankfurt International Airport. (Typhoonski/iStock Editorial/Getty Images)
Crops, Reuters

Bayer takes major writedown, flags Roundup settlement bill

Company writes down agribusiness assets

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Reading Time: 2 minutes Frankfurt | Reuters — Bayer is facing a double hit from a higher legal bill for claims relating to weedkiller Roundup as well as 9.25 billion euros (C$14.2 billion) in impairments on agriculture businesses, much of it related to its Monsanto deal. The company said the write-downs, driven by weaker demand from farmers due to […] Read more
Bayer’s cross symbol hangs in a terminal at Frankfurt International Airport. (Typhoonski/iStock Editorial/Getty Images)
Crops, Reuters

Bayer plans more cost cuts, impairment charges

Pandemic now expected to hit crop science wing

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Reading Time: 2 minutes Berlin | Reuters — German drugs and chemical company Bayer announced plans on Wednesday for more than 1.5 billion euros (C$2.34 billion) of cost cuts as of 2024 and said it would take impairment charges on its agricultural business as it battles with low commodity prices. Bayer said that the impact of the coronavirus on […] Read more
(File photo by Dave Bedard)
Crops, Reuters

Bayer resolves more U.S. Roundup cases

Judge keeps pause on litigation

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Reading Time: 2 minutes Reuters — Attorneys for Bayer and U.S. consumers suing the company over allegations its Roundup herbicide caused cancer told a judge on Thursday they are continuing to resolve thousands more U.S. cases, improving prospects for its US$11 billion deal to end the litigation. The hearing was a contrast to the contentious tone among the parties […] Read more
(Dave Bedard photo)
Crops, Reuters

Mexico to phase out use of glyphosate

Farmers to have until 2024 to phase out herbicide

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Reading Time: < 1 minute Mexico City | Reuters — Mexico will gradually phase out use of the herbicide glyphosate by the time the current administration ends in late 2024, President Andres Manuel Lopez Obrador said on Wednesday, following a ministerial spat over the product. Acknowledging differences between his agriculture and environment ministries over the herbicide, which is used in […] Read more
(Bayer.com)
Crops, Reuters

Bayer books second-quarter loss after settlement

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Reading Time: < 1 minute Frankfurt | Reuters — German drugs and pesticides group Bayer reported a 9.5 billion-euro (C$14.86 billion) net loss for its second quarter, following a US$10.9 billion settlement of U.S. lawsuits claiming that its Roundup herbicide caused cancer. The charges stemmed mainly from agreements which attempted to wrap up legal disputes inherited with its US$63 billion […] Read more
Plaintiff Dewayne Johnson listens as attorney Brent Wisner, not shown, speaks about his condition at trial in San Francisco on July 9, 2018. (File photo: Josh Edelson/Pool via Reuters)
Crops, Reuters

Bayer loses California appeal of Roundup verdict

Damages payable to plaintiff are further reduced

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Reading Time: 2 minutes Reuters — Bayer AG failed to persuade a California appeals court to overturn a verdict favouring a school groundskeeper who claimed its Roundup weed killer caused his cancer but reduced the amount of damages by 74 per cent, to US$20.5 million. The decision by the California Court of Appeal came after a San Francisco jury […] Read more
(Dave Bedard photo)
Crops, Reuters

Bayer puts Roundup future claims settlement on hold

Judge questions proposal for third-party scientists to rule on chemical's carcinogenicity

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Reading Time: 2 minutes Frankfurt | Reuters — Bayer was forced on Wednesday to delay part of a proposed settlement of allegations that its widely used herbicide Roundup caused cancer after a U.S. judge questioned its plan to deal with future claims. The German company said that lawyers representing those preparing a class action had withdrawn a request for […] Read more
Bayer’s cross symbol hangs in a terminal at Frankfurt International Airport. (Typhoonski/iStock Editorial/Getty Images)
Crops, Reuters

Investors pile into Bayer bond to pay settlement charges

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Reading Time: < 1 minute Amsterdam | Reuters — Investors piled into a Bayer bond on Wednesday that will help pay for a long-negotiated settlement of U.S. lawsuits claiming its widely-used herbicide Roundup caused cancer. Demand for the four-tranche bond sale, whose proceeds will include the litigation payments, exceeded 17.5 billion euros, nearly three times the six billion euros (C$9.15 […] Read more
(Dave Bedard photo)
Crops

U.S. settlements not expected to change availability, labels for glyphosate, dicamba

Bayer to pay up to US$12 billion to resolve ag chem, PCB claims; company is "not contemplating" a Canadian glyphosate settlement

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Reading Time: 5 minutes Updated, June 25 — Farmers in Canada, the U.S. and elsewhere shouldn’t expect any changes to availability or label directions for Bayer’s stable of glyphosate and dicamba herbicides, coming out of a massive settlement for thousands of lawsuits, the company says. The German company announced Wednesday it expects to spend up to $12 billion in […] Read more
(Dave Bedard photo)
Crops, Reuters

Bayer reportedly near glyphosate settlement after lengthy talks

Proposed settlement said to include $2 billion for future cases

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Reading Time: 2 minutes Reuters — Germany’s Bayer is set to reach a settlement this week with U.S. plaintiffs that claim its glyphosate-based herbicides cause cancer, two people familiar with the matter told Reuters. After more than a year of talks, however, some details and the overall amount of the settlement have yet to be finalised, one of the […] Read more

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