Bayer is approaching glyphosate agreement

Kenneth Feinberg is still covered. The Washington star lawyer, who acts as a mediator in the legal disputes surrounding the weed killer glyphosate, told the FAZ at the weekend that it was “premature” to speak of an agreement between Bayer and plaintiffs’ lawyers, and described a corresponding report by the “Wall Street Journal” as “ridiculous”. The talks continued. However, he also indicated that the two parties were getting closer and added that he might be able to say more in ten days.

The American newspaper had reported that Bayer had negotiated preliminary terms for an agreement with half a dozen law firms representing several tens of thousands of plaintiffs. The deal could be finally tied down in the coming weeks and is expected to be around $ 10 billion.

That would not come as a surprise, similar figures have been circulating in the past few months and have also been put in the room by analysts. Bayer only announced that it was still in talks and could not comment on any speculation about progress.

There are high claims for damages

Bayer is currently facing 48,600 glyphosate lawsuits in the United States. The drug has belonged to the group since the takeover of the American competitor Monsanto in 2018. The plaintiffs hold it responsible for cancer. Court hearings have occurred in three cases to date, and Bayer has lost them all, which has increased pressure on the Group to seek out-of-court settlement.

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