German chemical giant Bayer said it sold significantly more products containing the pesticide glyphosate than the previous year, Dutch news portal Nieuwe Oogst reported on August 6.
According to a company representative, these products have become cheaper. CEO Bill Anderson said in March that Bayer was working on an alternative to glyphosate. According to him, the new substance is already being tested in factories and should appear on the market in 2028.
In the first half of this year, sales of all the company’s products amounted to 24.9 billion euros (2.3 trillion rubles), which is 2.1% less than a year earlier (25.4 billion euros, 2.35 trillion rubles). In the first six months of the year, Bayer made almost 2 billion euros (185 billion rubles) in profit, significantly more than the 291 million euros (27 billion rubles) it recorded in the first half of 2023.
In the second quarter, the concern suffered a loss of 34 million euros (3.15 billion rubles). This is much less than a year earlier. At that time, Bayer lost almost 1.9 billion euros (175 billion rubles).
Earlier this year, Bayer announced it would cut many levels of management within the company. The group did not say how many jobs would be cut. In 2022, Bayer employed more than 100,000 people. The company says it spent 329 million euros (30.5 billion rubles) on restructuring last quarter.
As a reminder, there are tens of thousands of lawsuits pending in the United States from people who claim to have developed cancer because of the glyphosate-containing drug Roundup. In nine of the 23 recently dismissed cases, Bayer must pay compensation. Last month, for example, the group reached a settlement in Seattle worth $160 million (13.5 billion rubles). But Bayer denies liability.
Source: Rossa Primavera
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