Add source Login
Germany's Bayer sets aside another €1b for US glyphosate lawsuits

Germany's Bayer sets aside another €1b for US glyphosate lawsuits

Legal disputes in the United States related to the agricultural pesticide glyphosate continue to weigh on German pharmaceutical and chemical maker Bayer, reported dpa. The company said on Wednesday that it had set aside additional provisions of nearly €1 billion for legal disputes related to glyphosate and the PCB chemical. However, chief executive Bill Anderson said the strong performance by the company's agricultural division meant the group exceeded analysts' expectations for operating profit and confirmed the group's 2025 outlook for operating profit, adjusted for special effects. Nonetheless, the company reported a net loss of just under €1 billion in the third quarter on sales of around €9.7 billion, down 3.1% compared with the same quarter last year. Excluding negative currency and portfolio effects, sales were up 0.9%. Anderson expressed confidence that the company would be under less strain by the end of 2026 from the lawsuits, many of which are related to the Roundup brand weedkiller sold by agrichemical giant Monsanto, which Bayer bought for more than $60 billion in 2018. The higher provisions in the third quarter are due to settlement agreements and a moderate increase in the number of glyphosate lawsuits filed, he said. As of October 15, Bayer has 197,000 registered claims, of which around 132,000 have been settled or did not meet settlement criteria.