Business Medical Dialogues
    • facebook
    • twitter
    Login Register
    • facebook
    • twitter
    Login Register
    • Medical Dialogues
    • Speciality Dialogues
    • Education Dialogues
    • Medical Jobs
    • Medical Matrimony
    • MD Brand Connect
    Business Medical Dialogues
    • News
        • Financial Results
        • Hospitals & Diagnostics
        • IT / Health Venture
        • Implants / Devices
        • Insurance
        • Key Movement
        • Pharmaceuticals
        • Policy
        • Technology
        • pharma-news
    • blog
    LoginRegister
    Business Medical Dialogues
    LoginRegister
    • Home
    • News
      • Financial Results
      • Hospitals & Diagnostics
      • IT / Health Venture
      • Implants / Devices
      • Insurance
      • Key Movement
      • Pharmaceuticals
      • Policy
      • Technology
      • pharma-news
    • blog
    • Home
    • Latest News
    • Bayer mediator...

    Bayer mediator dismisses report of USD 8 billion Roundup settlement

    Medical Dialogues BureauWritten by Medical Dialogues Bureau Published On 2019-08-11T09:15:22+05:30  |  Updated On 11 Aug 2019 9:15 AM IST
    Bayer mediator dismisses report of USD 8 billion Roundup settlement

    Roundup is the flagship weed-killing product of Monsanto, the American seeds and pesticides maker that Bayer bought last year in a mammoth $63 billion deal.


    Frankfurt: Kenneth Feinberg, the court-appointed mediator between chemical and pharma giant Bayer and thousands of plaintiffs claiming the herbicide glyphosate gave them cancer, on Friday denied reports the company had made an $8 billion settlement offer.


    "Bayer has not suggested that it should pay $8 billion to settle all US Roundup cancer cases," Feinberg told German business newspaper Handelsblatt.


    "Such a claim is total fiction," he added.


    Roundup is the flagship weed-killing product of Monsanto, the American seeds and pesticides maker that Bayer bought last year in a mammoth $63 billion deal.


    Since the takeover, some 18,000 people have brought legal actions against the combined firm, saying their use of the Monsanto product caused various kinds of cancer.


    Analysts have warned that court-ordered individual payouts or a mass settlement in the glyphosate cases could cost upwards of 10 billion euros ($11.2 billion).


    Bloomberg News had reported rumours of a settlement earlier Friday, sending Bayer's stock price soaring as investors saw hope the company could free itself of the legal millstone.


    The shares fell back to 64.48 euros by just after 3:30 pm in Frankfurt (1330 GMT), but remained up 2.4 per cent on the day and topped the blue-chip DAX index.


    - 'Compensation not even discussed' - Feinberg is a veteran mediator who has worked on cases from the harm caused by defoliant Agent Orange -- also manufactured by Monsanto -- during the Vietnam War to Volkswagen's emissions cheating scandal.


    He told Handelsblatt that "compensation has not yet even been discussed in the global mediation talks", which are set to last until September at the order of a California judge.


    A Bayer spokesman told AFP earlier the group "does not comment on rumours", referring back to its second-quarter earnings statement, which vowed both energetic defences in lawsuits and engagement in the court-ordered mediation process.


    "We believe that we will ultimately prevail in this litigation on the strength of sound science," chief executive Werner Baumann told investors in a July 30 telephone conference.


    Juries in several lower courts granted plaintiffs massive damages awards over Roundup, although they were later reduced by judges and Bayer vowed to appeal -- saying the weight of scientific evidence is against glyphosate causing cancer when used appropriately.


    Plaintiffs' lawyers have often based their arguments on a 2015 finding by World Health Organization arm IARC that classed glyphosate as "probably carcinogenic".


    But this was a finding in absolute terms, rather than one related to typical levels of exposure.


    Bayer points to long-term studies of thousands of glyphosate users which it says show no increased cancer risk.


    Read Also: City council reviews use of Bayer Roundup weed killer amid cancer fears

    BayercancercarcinogenicFrankfurtglyphosate casesHandelsblattherbicide glyphosateIARCKenneth FeinbergMonsantopharmapharma companypharma newsRoundup caseWerner BaumannWorld Health Organization
    Source : AFP

    Disclaimer: This site is primarily intended for healthcare professionals. Any content/information on this website does not replace the advice of medical and/or health professionals and should not be construed as medical/diagnostic advice/endorsement or prescription. Use of this site is subject to our terms of use, privacy policy, advertisement policy. © 2020 Minerva Medical Treatment Pvt Ltd

    Medical Dialogues Bureau
    Medical Dialogues Bureau

      Medical Dialogues Bureau consists of a team of passionate medical/scientific writers, led by doctors and healthcare researchers.  Our team efforts to bring you updated and timely news about the important happenings of the medical and healthcare sector. Our editorial team can be reached at editorial@medicaldialogues.in. Check out more about our bureau/team here

      Show Full Article
      Next Story
      Similar Posts
      NO DATA FOUND

      Popular Stories

      • Email: info@medicaldialogues.in
      • Phone: 011 - 4372 0751

      Website Last Updated On : 13 Oct 2022 5:14 AM GMT
      Company
      • About Us
      • Contact Us
      • Our Team
      • Reach our Editor
      • Feedback
      • Submit Article
      Ads & Legal
      • Advertise
      • Advertise Policy
      • Terms and Conditions
      • Privacy Policy
      • Editorial Policy
      • Comments Policy
      • Disclamier
      Medical Dialogues is health news portal designed to update medical and healthcare professionals but does not limit/block other interested parties from accessing our general health content. The health content on Medical Dialogues and its subdomains is created and/or edited by our expert team, that includes doctors, healthcare researchers and scientific writers, who review all medical information to keep them in line with the latest evidence-based medical information and accepted health guidelines by established medical organisations of the world.

      Any content/information on this website does not replace the advice of medical and/or health professionals and should not be construed as medical/diagnostic advice/endorsement or prescription.Use of this site is subject to our terms of use, privacy policy, advertisement policy. You can check out disclaimers here. © 2025 Minerva Medical Treatment Pvt Ltd

      © 2025 - Medical Dialogues. All Rights Reserved.
      Powered By: Hocalwire
      X
      We use cookies for analytics, advertising and to improve our site. You agree to our use of cookies by continuing to use our site. To know more, see our Cookie Policy and Cookie Settings.Ok