Monsanto Lawsuit: Bayer says it's paying up to $10.9B to settle lawsuit over Monsanto's weedkiller, PCB cases

BERLIN -- German pharma giant Bayer says it's paying up to $10.9 billion to settle a lawsuit over subsidiary Monsanto's weedkiller Roundup.

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Monsanto has faced numerous lawsuits over claims it causes cancer.

In a statement Wednesday, Bayer said it was also paying up $1.22 billion to settle two further cases, one involving PCB in water.

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The Leverkusen, Germany-based company said the Roundup settlement would bring closure to approximately 75%'' of the current 125,000 filed and unfiled claims. It said the agreement is subject to approval by Judge Vince Chhabria of the U.S. District Court for the Northern District of California.