German pharmaceutical company Bayer says it’s paying up to $10.9 billion US to settle lawsuits over subsidiary Monsanto’s weed killer Roundup, which has faced numerous lawsuits over claims it causes cancer.
In a statement Wednesday, Bayer said it was also paying up $1.22 billion to settle two further cases, one involving PCB in water.
The Leverkusen-based company said the Roundup settlement would “bring closure to approximately 75 per cent” of the current 125,000 filed and un-filed claims.
It said the agreement is subject to approval by Judge Vince Chhabria of the U.S. District Court for the Northern District of California.
More to come.