The maker of the popular Roundup weedkiller has announced a $7.25 billion program to settle current and potential future lawsuits over health concerns related to the product’s main ingredient, glyphosate.
Monsanto’s plan, announced Tuesday, comes as the company is gearing up for a Supreme Court fight in April over its duty to warn consumers about possible cancer risks from using Roundup. The company faces thousands of lawsuits nationwide alleging that the product caused users to develop non-Hodgkin lymphoma.
Bill Anderson — CEO of Bayer, which bought Monsanto in 2018 — said the proposed settlement and Supreme Court battle are “mutually reinforcing,” adding that a favorable decision from the justices would address cases not covered by the settlement. The high court ruling will also address a broader dispute over whether federal law blocks states from adding their own health labels to consumer products.
“Instead of spending decades in legal disputes, we’re choosing to focus the company on its true mission,” Anderson said in planned remarks ahead of a Tuesday call with investors and reporters. “Litigation uncertainty has plagued the company for years, and this settlement gives the company a road to closure. The proposed settlement comes at a price, but we have a plan to finance it, and it’s distributed over many years. And we’re making good on one of the central promises we made two years ago. This is a move to liberate the company from the litigation burden so our people can dedicate resources to cell and gene therapies, drought-resistant seed hybrids, and better ways of taking care of everyday health.”
