By Cecilia Butini
Bayer AG on Tuesday raised the expected cost of handling future lawsuits related to its controversial weedkiller product Roundup to $2 billion from $1.25 billion.
The German chemical and pharmaceutical conglomerate said it took additional provisions in the third quarter to cover the increased costs connected to the case.
The company reported that as of the end of June, there were about 125,000 filed and unfiled claims about Roundup, and that it is continuing to work on a joint proposal to address future Roundup claims together with plaintiffs' counsel.
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(END) Dow Jones Newswires
November 03, 2020 03:02 ET (08:02 GMT)Copyright (c) 2020 Dow Jones & Company, Inc.