Bayer posts additional $4.5bln provision for Roundup litigation

Roundup-related litigation that has dogged the company after it acquired it as part of its $63bln purchase of Monsanto in 2018

  
The logo of Bayer AG is pictured outside a plant of the German pharmaceutical and chemical maker in Wuppertal, Germany August 9, 2019.

The logo of Bayer AG is pictured outside a plant of the German pharmaceutical and chemical maker in Wuppertal, Germany August 9, 2019.

REUTERS/Wolfgang Rattay

FRANKFURT- Bayer said on Thursday that it would post an additional provision of $4.5 billion related to litigation of its Roundup weedkiller.

Bayer made the announcement in an update to investors on how it plans to deal with Roundup-related litigation that has dogged the company after it acquired it as part of its $63 billion purchase of Monsanto in 2018.

The decision comes after a U.S. judge in May rejected Bayer's plan to try and limit the cost of future class action claims that its Roundup weedkiller causes cancer. 

(Reporting by Patricia Weiss; Writing by Tom Sims; Editing by Douglas Busvine and Jane Merriman) ((Tom.Sims@thomsonreuters.com; +49 30 220 133 645;))


More From Business