Bayer establishes additional provisions around EUR 1.2B for Roundup litigation

On July 31, Bayer (BAYRY) said, “Bayer has established additional provisions of around EUR 1.2B for the Roundup litigation. This figure is included in the around EUR 1.7B total mentioned above. In addition to covering defense costs, these additional provisions were mainly attributable to an adverse verdict on the company’s appeal in the Anderson et al. case. The company has taken further legal action against the ruling and filed an application for the case to be transferred to the Missouri Supreme Court for review. Furthermore, the company has achieved a major settlement with a plaintiffs’ law firm, reducing the total number of unresolved glyphosate claims to 61,000. Of the 192,000 claims in total, 131,000 have been settled or are not eligible. Settlements are part of the company’s multi-pronged strategy to significantly contain the US litigation by the end of 2026. For PCBs, Bayer recorded EUR 530M in additional provisions and liabilities for the Burke case, potential future settlements related to the Sky Valley Education Center in the US state of Washington, and other litigation costs. This figure is likewise included in the around EUR 1.7B total mentioned above. Most of the claims alleging personal injury due to PCB exposure relate to the SVEC, a school building in the Seattle area. With respect to the past SVEC verdicts, Bayer continues to await a ruling from the Washington Supreme Court on the Erickson case.”