How Roundup lawsuits could give China an edge [FOX Business Network]
BAYER AG S/ADR (BAYRY)
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Source: FOX Business Network
payouts are getting bigger with about 113,000 of 167,000 resolved and 54,000 remaining in a handful of states. The product contains glyphosate, a chemical that plaintiffs claim causes cancer. Earlier this year, a jury awarded $2.25 billion to a man who used the product and developed cancer. Monsanto, the maker of Roundup, was purchased by Bayer in 2018 for $63 billion in what was the largest acquisition in the company's history. It made the industrial giant the only U.S. supplier of glyphosate, a key crop protector from bugs and weeds, which is considered safe by the Environmental Protection Agency. Still, costly legal trials are making their way through the courts. CEO Bill Anderson, who took over in June, is now tasked with managing the potential of spiraling costs. "Another major challenge is litigation. This is a huge burden on our financials and also on our ability to invest in better medicines and solutions to feed the world," Anderson said during the company's March ear
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