Why NZ may raise glyphosate limits – and who's pushing back
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RTÉ News
2 days ago
- RTÉ News
Bayer adds $1.37 billion to Roundup litigation reserves, raises 2025 sales forecast
German pharmaceutical and biotechnology group Bayer said today it had set aside an additional €1.2 billion in provisions to address ongoing litigation in the US over weed killer Roundup. The German group said that, on a currency-adjusted basis, it now anticipates annual sales of €46 billion to €48 billion, an increase of €1 billion at both ends from its prior forecast. Bayer, which is grappling with costly US product liability litigation, has already paid about $10 billion to settle disputed claims that Roundup, based on glyphosate, causes cancer. Plaintiffs have said they developed non-Hodgkin's lymphoma and other forms of cancer due to using Roundup, either at home or on the job. The company has since replaced glyphosate in US consumer products with different weed-killing substances. Bayer yesterday announced a significant settlement with a plaintiffs' law firm, reducing unresolved glyphosate claims to 61,000. Of the total 192,000 claims, 131,000 have been settled or deemed ineligible, Bayer said. Bayer forecast 2025 earnings before interest, tax, depreciation and amortisation (EBITDA), adjusted for one-off items, to range between €9.7 billion and €10.2 billion. The group also reported preliminary second-quarter sales of about €10.7 billion and group EBITDA before special items of about €2.1 billion.
France 24
3 days ago
- France 24
Bayer sets aside more cash to deal with weedkiller woes
It takes to 1.7 billion euros the amount set aside to deal with litigation linked to the glyphosate-based Roundup weedkiller, the German group said in a statement late Thursday. Bayer also said it had achieved a "major settlement" with a law firm "reducing the total number of unresolved glyphosate claims to 61,000". This means that a total of 131,000 claims had so far either been settled or deemed not eligible, it said. The flood of legal cases in the United States relates to claims that the weedkiller causes blood cancer. Bayer says scientific studies and regulatory approvals show that the weedkiller is safe. The Leverkusen-based group has already spent over $10 billion to settle cases. Despite the extra provision for the legal cases, Bayer hiked its forecasts for 2025 due to a better-than-expected performance in its pharmaceuticals division. The maker of Aspirin now expects sales of 46 to 48 billion euros this year up from a previous forecast of 45 to 47 billion. It also predicted earnings before interest, taxes, depreciation and amortisation -- a key measure of profitability -- of 9.7 to 10.2 billion euros up from a previous forecast of 9.5 to 10 billion. Its shares were up two percent on the blue-chip DAX index in Frankfurt Friday, while the broader index slipped 1.8 percent.
Yahoo
3 days ago
- Yahoo
Germany's Bayer raises 2025 outlook after strong pharma results
German pharmaceutical giant Bayer on Thursday updated its full-year guidance following a stronger-than-expected performance in its pharmaceuticals division during the first half of the year. The company has also set aside additional provisions of around €1.2 billion ($1.37 billion) for litigation related to the glyphosate-based weedkiller Roundup. Bayer generated group sales of about €10.7 billion in the second quarter of 2025. Quarterly core earnings per share increased to €1.23, mainly driven by a year-on-year improvement in the financial result and lower tax expense. The company now projects full-year group sales between €46 billion and €48 billion, up from its earlier forecast of €45 billion to €47 billion. Earnings before interest, tax, depreciation, and amortization (EBITDA) before special items are expected to range from €9.7 billion to €10.2 billion, revised from the previous €9.5 billion to €10 billion. Bayer said it is continuously evaluating the impacts of the current geopolitical developments, especially in relation to tariffs from the US government. The currently projected financial effects are accounted for in the updated full-year guidance. Bayer said it will publish detailed results for the second quarter on August 6. Sign in to access your portfolio
