German company Bayer is fighting thousands of claims that the weed killer component glyphosate causes cancer. It denies the link and is appealing against the handful of rulings already made.
German firm Bayer has not commented on reports that it is willing to pay $8 billion to settle glyphosate cases in the US. The mediator in the case said Bayer never made the proposal, calling the report "pure fiction."
The number of plaintiffs in the US claiming they are contracting cancer after using the weedkiller Roundup has leapt to over 18,000. German company Bayer admits it's facing a "challenging environment."
A California judge cut a $2 billion jury verdict against Bayer-owned Monsanto over its Roundup weed killer to $86.7 million. Bayer faces some 13,000 US lawsuits over the glyphosate-based product's potential health risks.
The sale is part of Bayer's plan to divest from non-strategic ventures, after its purchase of US firm Monsanto. Bayer has been dogged by a wave of lawsuits after the merger, which has sent its shares tumbling.
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