Bayer AG’s chief executive said this week the company might consider settling lawsuits over Monsanto’s glyphosate-containing weed-killers depending on how high court costs rise, but stressed it remained focused on defending the combined company against claims they cause cancer.
Bayer acquired Monsanto this year for $63 billion.
“If we can settle nuisances at some point where the defense costs in preparing cases are higher than potential settlement amounts, we will of course consider it from an economic standpoint,” CEO Werner Baumann told reporters when asked whether there was any scenario in which Bayer would consider settling.
He added: “We will resolutely and with all means defend ourselves in this (glyphosate) litigation.”
Baumann was speaking on Monday to German media invited to visit Bayer’s new operations in the former research and development facilities of Monsanto in St. Louis, Missouri. The remarks, made on Monday, were embargoed to the end of the week to allow media to return home.