Bayer boss calls Monsanto takeover ‘good idea’ despite mounting lawsuits

The CEO of German chemical large Bayer, Werner Baumann, has defended the multibillion-dollar takeover of Monsanto despite the large authorized prices which can be piling up over the agency’s Roundup weed killer.

“The Monsanto acquisition was and is a good idea,” Baumann informed Frankfurter Allgemeine when requested if he would change his thoughts about shopping for the US agency if he may. The acquisition was carried out after cautious due diligence, he stated.

Bayer is at present dealing with a complete of 11,200 US circumstances over Roundup and its lively ingredient glyphosate, which is the most well-liked weed killer within the US.

The German firm has rejected the accusations, claiming there are a whole bunch of scientific research and regulatory authorities that present glyphosate is protected to make use of.

“Regulatory authorities around the world consider glyphosate-based herbicides as safe when used as directed,” it stated, highlighting “800 rigorous studies” of the consequences of glyphosate.

Bayer’s inventory has misplaced nearly 40 % of its worth for the reason that US$63 billion (€55.6 billion) Monsanto acquisition in 2018.

Just two months after the acquisition was accomplished, Monsanto misplaced a case to a college groundskeeper affected by terminal non-Hodgkin’s lymphoma, who had sued the corporate over the glyphosate weed killers Roundup and Ranger Pro. The jury ordered the corporate to pay a staggering $289 million in damages after ruling that the biotech company did not correctly warn customers of Roundup’s well being hazards.

In a separate US case final week, a jury determined that Roundup was a “substantial factor” in inflicting non-Hodgkin’s lymphoma of a California man.

The US Environmental Protection Agency (EPA) maintains that glyphosate shouldn’t be more likely to be carcinogenic. The EPA labeled glyphosate a carcinogen in 1985, however reversed its place in 1991.

The World Health Organization’s most cancers analysis company categorized glyphosate as “probably carcinogenic to humans” in 2015. California has listed glyphosate in its Proposition 65 registry of chemical compounds identified to trigger most cancers.