Bayer is signaling it has had enough of litigation, leaving the future of a crop protection tool in limbo.
Executives tell the Wall Street Journal they are nearing the end of the road for glyphosate, the main ingredient in RoundUp. CEO Bill Anderson says they are barely breaking even, and litigation costs often put them in the red.
More than 65,000 cases are pending against Bayer right now, and the company has around $16 billion set aside for settlements.
Anderson stands by glyphosate, saying it has been proven safe to use, even by the FDA. Bayer produces roughly 40 percent of the supply used by U.S. farmers.
Related Stories
“These regulations, what we’re doing and what it does it just adds cost and burdens to our ag producers as they’re trying to feed, fuel and clothe the world.”
“What we’ve seen over the years is a real lack of proper management of those resources!”
“I see a path forward on this one. This is good for farmers and ranchers in this time of uncertainty.”
