Bayer to Set Aside $4.5 Billion in Provisions for Roundup Case; To Petition US Supreme Court for Review

   By Cecilia Butini 
 

Bayer AG said Thursday that it would set aside $4.5 billion in further provisions to end litigation around its Roundup weedkiller in the event of an unfavorable U.S. Supreme Court ruling related to a claim in which Bayer appealed and lost.

The German conglomerate said it is preparing for a possible unfavorable Supreme Court ruling, in which the court declines to hear the case or rules in favor of the plaintiff, a California resident named Edwin Hardeman who claimed that his lymphoma was caused by Roundup.

The company said, however, that it sees good chances that the court will issue a favorable decision, effectively ending litigation around Roundup.

Bayer will file a petition to the Supreme Court seeking review of the Hardeman case in August, it said, adding that it won't entertain any discussions on further settlements when and if the court grants review.

In the event of a negative Supreme Court outcome, the company said it will set up a claims administration program that will come up with pre-determined compensation values.

Write to Cecilia Butini at [e-mail]

(END) Dow Jones Newswires

July 29, 2021 09:54 ET (13:54 GMT)

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