The US Court fined Monsanto US$ 289 mln
Monsanto was ordered to pay USD 289 million in damages in the first of possibly thousands of U.S. lawsuits over alleged links between a weedkiller and cancer, Reuters reports.
The applicants believe that it is because of the use of this herbicide that they have developed non-Hodgkin's lymphoma (cancer). A serious reason for the massive claims was the decision of the International Agency for Research on Cancer (IARC) — in 2015 it recognized glyphosate as "probably carcinogenic to humans."
According to Consumersafety.org, over the past several years, however, thousands of people have filed lawsuits claiming that the product’s active ingredient glyphosate can cause several types of cancer, including non-Hodgkin’s lymphoma.
Monsanto, bought by Bayer this year for USD 63 billion, said that it would appeal against the jury’s verdict in California, which is the latest episode in a long-running debate over claims that exposure to Roundup can cause cancer.
Berenberg analyst Alistair Campbell said resolving the issue could cost Bayer USD 5 billion, citing a rough estimate based on a past product liability settlements.
Reference: Monsanto shares will no longer be traded on the New York Stock Exchange, with Bayer now the sole owner of Monsanto Company. Monsanto shareholders are being paid USD 128 per share.