Bayer CEO: Roundup settlement could be in the cards
Company struggles with mounting legal claims from many thousands of Americans who say the herbicide caused their cancer.
Bayer AG Chief Executive Officer Werner Baumann said he'd consider a "financially reasonable" settlement of litigation over the weedkiller Roundup as the caseload swells and the company's shares slump anew.
The number of lawsuits from people in the U.S. who say the herbicide caused them to develop cancer rose by about 5,000 to 18,400, Bayer said in a statement. The company also revealed more troubles at its crop-science division on Tuesday after bad weather curbed demand from farmers.
Quarterly sales and earnings missed estimates and the German company questioned its ability to meet its full-year forecast. The shares fell as much as 4.7% in F...