Bayer has verbal agreement with some glyphosate claimants: Bloomberg

FILE PHOTO: Logo and flags of Bayer AG are pictured outside a plant of the German pharmaceutical and chemical maker in Wuppertal, Germany August 9, 2019. REUTERS/Wolfgang Rattay

FRANKFURT (Reuters) – Bayer said on Monday it had made progress seeking a settlement over claims its glyphosate-based Roundup weedkiller causes cancer, after Bloomberg reported the company reached a verbal agreement on about 50,000 to 85,000 cases.

Bloomberg cited people familiar with the negotiations as saying that the deals have yet to be signed and Bayer is likely to announce the settlements in June.

“We’ve made progress in the Roundup mediation discussions under the auspices of Ken Feinberg, but in keeping with the confidentiality of this process, the company will not speculate about settlement outcomes or timing,” a Bayer spokesman said.

Bloomberg reported the overall number of U.S. cancer lawsuits stood at 125,000, including tens of thousands being held in abeyance by plaintiffs’ lawyers under agreements with Bayer.

Bayer said in April it has been served with cases in court from 52,500 U.S. plaintiffs who blame Roundup and other glyphosate-based weedkillers for their cancer, up from 48,600 in February.

Reporting by Ludwig Burger; editing by Thomas Seythal

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