Bayer Monsanto stated Thursday that “the company and its partners will replace its glyphosate-based products in the U.S. residential Lawn & Garden market with new formulations that rely on alternative active ingredients beginning in 2023, subject to a timely review by the U.S. Environmental Protection Agency (EPA) and state counterparts…..”
More than 90 law firms and more than 160 lawyers have notified a federal court judge overseeing U.S. Roundup litigation that they oppose Monsanto owner Bayer AG’s $2 billion plan to settle future claims the company expects to be brought by people diagnosed with cancer they blame on use of Monsanto’s herbicide products. In recent days, nine separate objections to the plan and four amicus briefs have been filed with the U.S. District Court for the Northern District of California, letting Judge Vince Chhabria know the extent of opposition to the proposed class settlement. Chhabria has been overseeing thousands of Roundup cancer lawsuits in what is called ‘multidistrict litigation’ (MDL). On Monday, the National Trial Lawyers (NTL) joined in the opposition on behalf of its 14,000 members. The group said in their filing with the court that they agree with the opposition that “the proposed settlement seriously endangers access to justice for millions of people in the proposed class, would prevent Monsanto’s victims from holding it accountable, and would reward Monsanto in numerous respects.”
The Bayer AG annual shareholders’ meeting got underway Tuesday in Germany, drawing the attention of not only investors and analysts but also activists, lawyers and cancer patients who want to see Bayer make amends for alleged misdeeds by Monsanto, which Bayer bought two years ago. The meeting was to be an in-person event in Bonn, Germany but due to fears about large gatherings that could spread the Covid-19 virus, Bayer instead is hosting a video webcast of the meeting. On Monday the company announced a “good start to 2020,” reporting higher sales and profits through all divisions driven in part by strong demand within its Consumer Health division related to the Covid-19 pandemic. The shareholders’ meeting comes as Bayer is facing legal claims in the United States brought by roughly 52,500 plaintiffs alleging that exposure to Monsanto’s glyphosate-based herbicides such as Roundup caused them or their loved ones to develop non-Hodgkin lymphoma (NHL).
Tireless campaigner and environmentalist Dr Rosemary Mason has just written an open letter to Werner Baumann, the chief executive of Bayer CropScience. It is in direct response to Bayer CropScience’s advertisement that was placed in Politico and the Farmers’ Guardian on 19/12/2018 which reads: “Transparency creates trust. At Bayer, we embrace our responsibility to communicate how we assess our products’ safety — and we recognize that people around the world want more information around glyphosate. This month, we published more than 300 study summaries on the safety of glyphosate on our dedicated transparency website. “
Chief Executive Werner Baumann is under pressure to boost Bayer’s share price after a drop of more than 35 percent so far this year, dragged down by concern over more than 9,000 lawsuits it faces over the cancer-causing effect of Monsanto’s Roundup weed killer. Sustainable Pulse Director, Henry Rowlands, commented on the shocking news on Thursday; “This just shows what happens when a company doesn’t do its homework before making a huge investment. Bayer will struggle to recover from the Monsanto fiasco and investors in the company are obviously now very concerned.
By Lorraine Chow for Ecowatch. Investopedia reports that Monsanto stocks have risen more than 4 percent since Trump's surprise victory. Additionally, Terry Haines of the investment banking advisory firm Evercore ISI said that the president-elect's nominee for attorney general—Sen. Jeff Sessions, a pro-business conservative from Alabama—is good news for any pending mega-deals.