In yet another legal repercussion of Bayer’s 2018 acquisition of Monsanto, a US federal judge has rejected the German group’s proposed $648 million settlement of class-action litigation over historic contamination from polychlorinated biphenyls (PCBs).
In its biggest pharma acquisition since the 2006 takeover of Berlin-based women’s specialist Schering, Bayer plans to plunk down up to $4 billion for US biotech firm Asklepios BioPharmaceutical (AskBio). Under the agreed terms, Bayer will pay $2 billion upfront and up to $2 billion more, contingent on certain success milestones.
The California Supreme Court has declined to hear Bayer’s appeal of the first jury verdict against it in a series of cases brought by US plaintiffs charging that Monsanto’s Roundup herbicide causes cancer.
In January, Schrödinger, a provider of integrated software solutions, and the life sciences company Bayer announced a 5-year technology alliance to develop a comprehensive de novo design solution to accelerate the discovery of innovative, high-quality drugs.
Bayer’s life science investment arm Leaps by Bayer and Singapore investor group Temasek have formed a new joint vertical farming company called Unfold. The companies did not disclose their respective shares in the venture, which will use seed genetics – or germplasm – from vegetable crops to develop new seed varieties tailored for vertical farms.
Bayer has begun construction on a new €50 million pharmaceutical facility in the Beijing Economic-Technological Development Area, aimed at boosting annual output in the Chinese capital by roughly 40%.
In another round of litigation loosely or tightly tied to acquisitions, Bayer said it will pay $1.6 billion to settle with US plaintiffs alleging that its now discontinued contraceptive device Essure had serious side effects. As the US settlements are specific to the country’s legal system, Bayer said these will have no impact on pending litigation in other countries, without providing details of the latter.
Bayer is to acquire UK biotech Kandy Therapeutics in a move that will expand its drug development pipeline in women’s healthcare.
In the ongoing litigation over whether Monsanto’s Roundup herbicide causes cancer, Bayer has suffered another setback, losing its appeal of the first of three US jury verdicts against it – even though the California Court of Appeals in San Francisco further slashed the 2018 damage award to $20.4 million.
Bayer has backed away from plans to create a science advisory panel to help decide still outstanding claims from US plaintiffs that Monsanto’s glyphosate-based herbicide Roundup caused their non-Hodgkins lymphoma.
Bayer’s relief over its recent deal to settle three-quarters of its outstanding Roundup-related US lawsuits for more than $10 billion altogether could be short-lived.
After nearly a year of deliberation, Bayer has clinched a deal to settle three-quarters of its outstanding lawsuits from US plaintiffs who claim that Monsanto’s top-selling herbicide Roundup with the active ingredient glyphosate caused their non-Hodgkins lymphoma (NHL).
Bayer has halted work on a $1 billion production facility for the herbicide active ingredient dicamba in the US state of Louisana but said the decision was not related to a court order mandating that the Environmental Protection Agency (EPA) vacate its approval of the crop protectant active ingredient.
German specialty chemicals producer Lanxess completed the sale of its 40% stake in chemical park operator Currenta to Australia’s Macquarie Infrastructure and Real Assets (MIRA) at the end of April. The sale agreement was concluded in August 2019.
Bayer has set aside €480 million to defend lawsuits brought by people who claim that Monsanto’s glyphosate-based herbicide Roundup caused their non-Hodgkins lymphoma, CEO Werner Baumann said at the company’s annual general meeting on Apr. 28.
The fate of the agrochemical innovation, development, product launch and production are strongly linked to the parallel development of the fine chemicals and custom manufacturing industry.
