Bayer Loses Appeal of Ruling That its Weed Killer Causes Cancer
upstart writes:
Bayer loses appeal of ruling that its weed killer causes cancer:
Bayer AG's Roundup woes deepened as it lost another appeal of a jury verdict finding its weed killer causes cancer, the company's third consecutive appeals court loss of the cases that have gone to trial.
A California appeals court in San Francisco refused to overturn the 2019 verdict in which a jury awarded more than $2 billion to a couple who claimed they fell ill after using the herbicide for more than three decades. It was the eighth-largest product-defect award in U.S. history. The appeals court left intact the trial judge's decision to reduce the award to $86.7 million.
The decision comes after Leverkusen, Germany-based Bayer recently set aside an additional $4.5 billion to deal with thousands of Roundup suits, bringing its reserves for the cases to more than $16 billion. The company also said its Monsanto unit will pull the current version of Roundup off the U.S. consumer lawn and garden market in 2023.
The drugs and chemicals giant inherited the legal storm over Roundup with its $63 billion takeover of St. Louis-based Monsanto in 2018, a deal spearheaded by Chief Executive Officer Werner Baumann early in his tenure. Monsanto started manufacturing Roundup in the 1970s.
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