FRANKFURT, March 7 (Reuters) - Bayer has
warned U.S. lawmakers it could stop selling the popular Roundup
weedkiller if they cannot provide better legal protection
against product liability litigation, according to a financial
analyst and a person familiar with the matter.
Bayer has already paid about $10 billion to settle disputed
claims that Roundup, based on the glyphosate herbicide, causes
cancer. There is a backlog of about 67,000 pending cases for
which the group has set aside a further $5.9 billion in legal
provisions.
"Without regulatory clarity (Bayer) will need to exit the
business. Bayer have been clear with legislators and farmer
groups on this," analysts at brokerage Jefferies said in a note
on Thursday, citing guidance Bayer's leadership provided in a
meeting.
Disclosing glyphosate sales numbers for the first time,
Bayer on Wednesday said the product, one of the most widely used
weedkillers in U.S. field farming, generated 2.6 billion euros
($2.8 billion) in revenue last year.
"Bayer could reach a point in the future where the company is
forced to discontinue the sale of the product in the United
States," a person familiar with the matter told Reuters.
Bayer, which acquired the product under the $63 billion
takeover of Monsanto in 2018, said: "We are exploring every
possibility to end this litigation" and declined to comment
further.
(Editing by Gerry Doyle)