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German chemical and pharmaceutical company Bayer says it plans to invest some 5 billion euros ($5.6 billion) over the next decade in developing “additional methods to combat weeds.”
Friday’s announcement came as Bayer is engaged in legal battles in the U.S. in which plaintiffs claim that subsidiary Monsanto’s Roundup weed killer caused cancer. Rulings in three cases have gone against it.
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Bayer argues that studies have established that glyphosate, Roundup’s active ingredient, is safe and made clear Friday that it stands by the product. A company statement said that “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 acquired Monsanto for $63 billion last year.