Glyphosate, the chemical used in Bayer’s (BAYRY) Roundup that was once vaunted for its ability to kill plants and spare animals, is being assaulted on two fronts, Tim Loh, Hayley Warren, and Julia Janicki of Bloomberg reports. Weeds are refusing to die in the U.K. and America after being sprayed with the herbicide, and former users in the U.S. are contending with the fact the weedkiller may be slowly killing them. Bayer has spent over $10B in legal costs over a product it inherited 10 years ago and faces over 60,000 claims from U.S. plaintiffs who claim the chemical caused their cancer. The litigation has cast a massive cloud over the company, leading CEO Bill Anderson to consider whether the company should even make glyphosate.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BAYRY:
- Bayer names Judith Hartmann as CFO, succeeding Wolfgang Nickl
- Bayer reports FINE-ONE trial met primary endpoint
- Bayer disagrees with Washington Supreme Court ruling, considering legal options
- Bayer’s New Study on Mirena: A Potential Game-Changer for Endometrial Hyperplasia Treatment
- Bayer’s Rivaroxaban Study: A New Chapter in Pediatric Heart Care