From: 06/21/2022 4:42 PM
Chemical company Bayer went bankrupt with a planned glyphosate appeal in the US Supreme Court. The Supreme Court said it would not grant the appeal. Bayer now has to pay $ 25 million.
The Bayer Group has failed in a groundbreaking legal dispute over the alleged cancer risks of herbicide glyphosate with an appeal to the US Supreme Court. The US Supreme Court announced that it would not deal with the case, which would be decisive for many other US proceedings.
For Bayer, this means the possibility of a liberation strike in the ongoing conflict over legacy legal issues that the agrochemical and pharmaceutical company was burdened with when it took over American seed giant Monsanto in 2018 for a cost of over $ 60 billion. dollars is dying.
Bettina Seidl, HR, on the failed Bayer case before the Supreme Court
Tagesschau 5:00 pm, June 21, 2022
$ 25 million in damages
In particular, the appeal to the Supreme Court concerned the revision of a ruling in favor of the actor Edwin Hardeman, who had accused Monsanto products containing glyphosate of cancer. In 2019, after a court case, he was awarded a whopping $ 25 million in damages. The group, on the other hand, went to the Supreme Court last August.
Bayer denies that glyphosate causes cancer. The company’s argument draws on regulatory approvals and studies to show that herbicides like Monsanto’s controversial Roundup product are safe when used as directed. Bayer had hoped the Supreme Court would overturn the decision. This would have been a signal effect for numerous other glyphosate lawsuits in the United States, on which billions of dollars in legal risks for the group depend.
$ 4.5 billion in provisions
The US Supreme Court’s decision not to accept the present case comes as a surprise, but it is not. President Joe Biden’s administration had already advised the Supreme Court against taking the case, a notable breakthrough. Because under Biden’s predecessor Donald Trump, the Washington government initially supported Bayer.
Bayer had already taken action in the event of a defeat at the Supreme Court. The company made an additional $ 4.5 billion in provisions last summer. The company wants to use this money to set up a program to address potential new plaintiffs in the United States over the next 15 years.
The numerous lawsuits Bayer is facing in the United States are based in particular on an assessment by the World Health Organization’s International Agency for Research on Cancer. In 2015, it classified Monsanto’s herbicide as “possibly carcinogenic” to humans.
Bayer: “I can’t understand the rejection”
On the stock exchange, Bayer shares turned negative after the decision and were listed down about 4.4%. “We can’t understand the Supreme Court’s rejection of the Hardeman case,” Bayer said. In its statement, however, the group indicated that it would continue to seek a clarifying judgment on glyphosate at the highest level of court in the United States.
While this decision closes the Hardeman case, there are other cases – including Roundup – that the Supreme Court can handle. “We are encouraged by the intense support from government officials, farmer groups and other stakeholders following the US government’s legal turnaround,” the company said.
Bayer suffers a severe defeat in the US Supreme Court
Ute Schnys, WDR, June 21, 2022 at 5:20 pm