Bayer expects a $7.25 billion settlement resolving tens of thousands of Roundup lawsuits to win court approval before Christmas, CEO Bill Anderson said on Tuesday. The settlement is under review by a Missouri state court judge in St. Louis. Anderson stated, "It could be any week now," and noted the company would face a much smaller number of individual cases after the settlement closes.
Bayer confronts roughly 65,000 claims in US state and federal courts from plaintiffs alleging they developed non-Hodgkin lymphoma and other cancers after using Roundup. Following a Supreme Court victory in June, Bayer moved its US Roundup business into a separate unit called Ruveon.
The company maintains that decades of studies show glyphosate, Roundup's active ingredient, is safe and does not cause cancer.
Investors monitoring Bayer (BAYN) should watch for the judge's final ruling on the settlement within the next eight weeks.