Bayer AG, the Leverkusen-headquartered German multinational pharmaceutical and life-science company, said later last week that it had cut a $2 billion deal which in effect would safeguard the company from future legal claims over usage of its weedkiller Roundup that many had claimed led to non-Hodgkin’s Lymphoma, a type of cancer.
In point of fact, latest move from the Leverkusen-based German bio-science company came forth as Bayer AG has still been facing off a flurry of legal obstacles to finalize its settlement deal on claims that Roundup alongside other glyphosate-based weedkiller could cause non-Hodgkin’s Lymphoma as beforementioned.
Nonetheless, a barrage of lawsuits that the German life-science company has been battling more than a couple of years, had been rooted back in the 2018 when it had agreed to a $63 billion buyout deal for the US-based Monsanto, since the Roundup lawsuits came alongside the takeover of the Missouri-based Agrochemical company which crop science division reportedly had developed the weedkiller.
Bayer’s Roundup to stay in the market
Apart from that, in a bid to restore confidence on its glyphosate-based herbicides and Roundup that came alongside a $63 billion takeover of Monsanto, Bayer AG had also added in the statement that decades of studies had shown glyphosate alongside its Roundup were safe for human use, suggesting the German bio-science conglomerate had no plans to withdraw Roundup from the US markets.
In tandem, under the terms of the deal that would insulate Bayer AG from future legal disputes over Roundup’s role in causing potentially lethal occupational health hazards, the $2 billion settlement would cover up expenses for future claims brought in by the farmers who would be diagnosed with non-Hodgkin’s Lymphoma following exposure to Roundup, while the settlement deal had also included compensations for people who had already been exposed to Roundup and might develop cancer in future.
If truth is to be told, Monsanto injected its glyphosate-based weedkiller Roundup into US market back in the 1974s, while it had been widely used by the farmers in the US and Brazil for crops and genetically modified seeds which had the ability to withstand its herbicidal effects, nonetheless, neither any eyebrows nor legal debates were raised before Bayer AG’s acquisition of the US-based agrochemical company.