Sunday, April 14, 2019

A New Headache for Bayer?

Reuters recently reported (April 11, 2019) that Bayer's CEO sees this company "massively" affected by litigation involving the herbicide (weedkiller) Roundup, produced by Monsanto, a company now owned by Bayer. 

Glyphosate, the principal active ingredient in Roundup, has already been designated as  "probably carcinogenic to humans"  by the World Health Organization.  (However, some other regulators have disagreed with these findings.) 

Several kinds of crops are genetically engineered to withstand exposure to Roundup so that entire fields can be sprayed, killing the weeds while sparing the crops.   But this use of glyphosate can massively increase human exposure.  

According to Reuters, Bayer acquired Monsanto last year for $63 billion, and has since lost $34 billion from its market value following U.S. jury awards finding Bayer liable for failure to warn of "alleged cancer risks."  More than 10,000 cases are still pending according to Reuters. 

You can read this article here:

https://www.reuters.com/article/us-bayer-ceo/ceo-sees-bayer-massively-affected-by-herbicide-litigation-idUSKCN1RN0WS