By Kim Richters

 

Bayer AG on Monday reported a rise in plaintiffs in connection with its glyphosate-based weedkiller Roundup, and said that the related mediation process has slowed down due to the coronavirus pandemic.

The German pharmaceutical and chemical company said it is facing lawsuits from around 52,500 plaintiffs as of April 14, up from around 48,600 plaintiffs reported in its fourth-quarter earnings.

The plaintiffs are claiming that Bayer's Roundup herbicides cause cancer, while Bayer has argued that Roundup and its ingredient glyphosate are safe.

Bayer said it is continuing to "engage constructively in the mediation process and had made progress" before the coronavirus pandemic slowed it down.

"The company will continue to consider a solution only if it is financially reasonable and puts in place a mechanism to resolve potential future claims efficiently. Against the background of a looming recession and looking at, in part, considerable liquidity challenges, this applies now more than ever," said the company's Chief Executive Werner Baumann.

The company on Monday reported a rise in first-quarter sales and earnings.

 

Write to Kim Richters at kim.richters@wsj.com

 

(END) Dow Jones Newswires

April 27, 2020 03:08 ET (07:08 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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