This week, Bayer announced a series of agreements that will resolve major litigation from the Monsanto merger. Roundup product liability, dicamba drift and PCB water litigations are the biggest parts of the agreement, which would total between $10.1 billion to 10.9 billion.
During a press conference, Liam Condon, president of Bayer’s crops division says the decision to resolve these cases was driven by Bayer’s commitment to bring greater certainty to their customers.
“We recognize the important benefits these and all our products bring to growers and other users around the world to help them economically and sustainably produce a healthy crop that helps nourish the world in a sustainable way,” said Condon. “What I want to make clear is we continue to proudly stand behind the safety and utility of our products and our commitment to offer them to our customers.
Condon echoed earlier sentiment that Bayer is backing up their weed control technologies.
“That commitment is unwavering,” he added. “Resolving these cases will allow us to return our focus to our important work at hand—developing world class agricultural innovation to help our customers.”
As part of Bayer’s approach to sustainable agriculture, the company has pledged more than $5 billion to create new tools for weed control throughout the next decade.
“This investment will come alongside our continued commitments to glyphosate, dicamba and other important crop protection tools we produce that growers rely on,” said Lisa Safarian, head of Bayer North America. “We stand firmly behind these products and recognize how important they are to our farmer customers.”
This month, the Ninth Circuit Court decided to vacate the current dicamba registration. Condon said Bayer is expecting reregistration in the fall.