Issue 13/2020 - Bayer Settles Most Allegations of Cancer Causing Monsanto's Herbicide

Bayer reached a settlement
on most of the allegations that Monsanto's herbicide causes cancerOn June 24, local time, Bayer issued a statement saying that it would pay up to $10.
9 billion in compensation to settle a total of more than 100,000 lawsuits
related to "herbicide causing cancer".
The company also said it hopes to use the compensation to resolve its legal disputes
over its 2018 "$63 billion acquisition of Monsanto.
" It is reported that of the more than 100,000 lawsuits, 75% have reached settlements
.

In addition, Bayer announced June 16 that it would cancel a nearly $1 billion project to produce dicamba in the United States, saying the move was unrelated
to the ruling of the ninth federal appeals court banning it from selling XtendiMax herbicide based on the active ingredient.

The company said the decision was made because global overcapacity to produce the chemical made the investment unattractive
.
The company will continue to source dicamba and produce its XtendiMax herbicide
at another plant in Iowa.