An Australian judge has dismissed a class action lawsuit alleging that Bayer AG BAYRY BAYZF Roundup weedkiller causes a type of blood cancer. This ruling is a significant victory for Bayer, facing numerous similar lawsuits in the United States.
Justice Michael Lee of Australia’s Federal Court ruled that the evidence was insufficient to link Roundup to non-Hodgkin’s lymphoma (NHL), a type of cancer that begins in the lymphatic system, part of the body’s germ-fighting immune system.
Related: Judge Slashes Bayer’s Massive $2B Roundup Verdict To $400M.
The decision supports Bayer’s stance that Roundup, a glyphosate-based herbicide, is safe.
Reuters highlights the company asserts it “fully stands behind its glyphosate-based products, which have been used around the world for almost 50 years.”
The Australian class action suit united more than 1,000 claimants, marking one of approximately 40 cases outside the United States, primarily in Canada and Australia.
The lead claimant, Kelvin McNickle, 41, allegedly used Roundup for over two decades before developing NHL at 35.
Bayer has won 14 of the last 20 Roundup trials in the United States. However, a series of losses in late 2023 and early 2024 resulted in over $4 billion in damages awarded to plaintiffs, significantly impacting investor confidence.
Despite this recent win, Bayer still faces over 50,000 outstanding claims in the United States. A U.S. court recently denied Bayer’s request for an agreement to prevent future cases.
To mitigate litigation risks, Bayer has replaced glyphosate with new active ingredients in its household products in the U.S. while continuing to sell glyphosate-based weedkillers to farmers, who heavily rely on it.
In May, Bayer’s Monsanto unit secured a significant victory. A Washington state appeals court overturned a $185 million verdict against the company over chemical contamination at a Seattle-area school.
Read Next:
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo: Shutterstock
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.