Bayer completes divestment of Crop Sciences businesses to BASF, starts integration of US Monsanto

bayer loogoBayer AG is a German multinational pharmaceutical and life sciences company. (Image source: Bayer)German chemical and pharmaceutical company Bayer can start integrating the US seeds and pesticides maker Monsanto

According to Bayer, the move aims to give rise to a leading agriculture company with innovative strength, a strong product portfolio and the highest ethical standards across the globe.

The announcement follows the completion of the divestment by Bayer to BASF of certain crop science businesses, fulfilling the requirements by the US Department of Justice.

Bayer's share price has fallen following last week’s glyphosate verdict where the jury asked Monanto to pay about US$290mn to a California groundsman, finding that the flagship Monsanto glyphosate caused his cancer.

However, in the statement, Bayer reiterated, “The jury’s decision is at odds with the weight of scientific evidence, decades of real world experience and the conclusions of regulators around the world that all confirm glyphosate is safe and does not cause non-Hodgkin’s lymphoma.” The company further added that the National Institutes of Health (NIH), the US Environmental Protection Agency (EPA), the European Food Safety Authority (EFSA), the European Chemicals Agency (ECHA) and other regulators around the world also concluded that glyphosate can be used safely.

Alain Charles Publishing, University House, 11-13 Lower Grosvenor Place, London, SW1W 0EX, UK
T: +44 20 7834 7676, F: +44 20 7973 0076, W: www.alaincharles.com

twn Are you sure that you want to switch to desktop version?