August 4, 2020

Bayer posts 9.5 bn euro loss on glyphosate settlement

Berlin (AFP) – German chemicals giant Bayer reported Tuesday a second-quarter net loss of 9.55 billion euros ($11.26 billion), reflecting the “exceptional impact” of a US settlement of thousands of claims that its glyphosate weed killer may have caused cancer.The heavy loss compared with a profit of 404 million euros ($475 million) in the same quarter of the previous year. The huge loss came as Bayer signed in June an agreement worth between $8.8 billion and $9.6 billion to settle some 125,000 claims in the US over the Roundup weed killer it acquired when it bought American agrochemical group …


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