Bayer’s Roundup Costs Could Top $16 Billion as Provisions Mount
- Company setting aside $4.5 billion for potential litigation
- Bayer to remove glyphosphate from residential Roundup products
Photographer: Daniel Acker/Bloomberg
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Bayer AG will set aside an additional $4.5 billion to deal with lawsuits tied to its best-selling Roundup weedkiller, which will be pulled from the U.S. consumer market in its current form in 2023.
The provision, taken in the second quarter, comes on top of the $11.6 billion that Bayer has previously pledged to fight and settle the Roundup litigation. It lifts beyond $16 billion the potential costs of a legal saga that dates to the 2018 acquisition of Monsanto Co., the maker of the herbicide.