Bayer AG says the number of lawsuits against glyphosate is rising, adding to concerns about potentially lengthy and costly litigation.
Bayer, which recently completed its acquisition of Monsanto, lowered its full-year earnings outlook stemming from delays in closing the deal.
Bayer is now integrating the maker of Roundup, which contains glyphosate, into its company.
The California lawsuit which set a dangerous precedent for the industry is under appeal, however it has caused thousands of similar lawsuits to be filed.
Bayer earlier this week said it faced some 8,700 plaintiffs across the U.S. as of late August, mainly cancer patients who claim to have fallen ill after being exposed to the glyphosate containing Monsanto herbicides, according to Dow Jones.
Last month, shortly before Bayer closed the acquisition, a California court ordered Monsanto to pay nearly $290 million to a cancer patient, as the jury claimed the products presented a “substantial danger” to consumers, and that Monsanto knew or should have known of potential risks and failed to warn users. Bayer rejected the verdict and is seeking a review of the court decision.