Bayer to invest $5.6 billion in new weed killer

It appears that Bayer intends on creating another line of weedkillers other than Monsanto’s RoundUp, which is causing it lots of grief stemming from thousands of U.S. lawsuits. RoundUp contains glyphosate, which according to plaintiffs, causes cancer.

On Friday, in a significant development, Bayer said it would be investing $5.6 billion (5 billion euros) in developing new weedkillers and reduce its environmental impact by 30% by 2030.

The development comes in the the wake of the conglomerate seeing to address the fallout from its U.S. class-action litigation over glyphosate.

“While glyphosate will continue to play an important role in agriculture and in Bayer’s portfolio, the company is committed to offering more choices for growers,” said Bayer in a statement.

These measures are aimed at addressing widespread concerns arising from its acquisition of Monsanto, the maker of RoundUp, a glyphosate-based weedkiller which, according to thousands of U.S. plaintiffs, causes cancer.

Categories: Creativity, Economy & Finance, Entrepreneurship, HR & Organization, Regulations & Legal, Strategy

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