June 14, 2019 / 6:06 AM / 6 days ago

Bayer says to invest five billion euros in new weed killers

FILE PHOTO: Logo of Bayer AG is pictured at the annual results news conference of the German drugmaker in Leverkusen, Germany February 27, 2019. REUTERS/Wolfgang Rattay

BERLIN (Reuters) - Bayer said it would invest 5 billion euros (£4.5 billion) in developing new weedkillers and reducing its environmental impact by 30% by 2030, as it seeks to address the fallout from U.S. class-action litigation over glyphosate.

“While glyphosate will continue to play an important role in agriculture and in Bayer’s portfolio, the company is committed to offering more choices for growers,” Bayer said in a statement on Friday.

Bayer said these measures seek to address public concerns arising from its acquisition of Monsanto, the maker of RoundUp, a glyphosate-based weedkiller which, according to thousands of U.S. plaintiffs, causes cancer. Bayer contests this.

Reporting by Tassilo Hummel; Editing by Douglas Busvine

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