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.
