July 31 (Reuters) - German pharmaceutical and
biotechnology group Bayer said on Thursday it had set
aside an additional 1.2 billion euros ($1.37 billion) in
provisions to address ongoing litigation in the United States
over weed killer Roundup.
The German group said that, on a currency-adjusted basis, it
now anticipates annual sales of 46 billion euros to 48 billion
euros, an increase of 1 billion euros at both ends from its
prior forecast.
Bayer, which is grappling with costly U.S. 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 U.S.
consumer products with different weed-killing substances.
On Thursday, Bayer 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 euros and 10.2 billion
euros.
The group also reported preliminary second-quarter sales of
about 10.7 billion euros and group EBITDA before special items
of about 2.1 billion euros.
Bayer will report its April-June earnings on August 6.
($1 = 0.8759 euros)
(Reporting by Rishabh Jaiswal and Mrinmay Dey in Bengaluru;
Editing by Anil D'Silva and Subhranshu Sahu)