The Pharmaceutical and Agrochemical Company Bayer Is Actively Working on an Alternative to the Controversial Herbicide Glyphosate

As CEO Bill Anderson informed in an interview with the Frankfurter Allgemeine Sonntagszeitung (F.A.S.), the new substance is already being tested on real plants. The aim is to launch the new product on the market as early as 2028. This would be a groundbreaking innovation in this field, the first in 30 years, according to Anderson.

Glyphosate, developed by the American agrochemical company Monsanto, was acquired by Bayer in 2018 for more than $60 billion. Since then, it has become a burden for the company from Leverkusen, as it faces thousands of compensation lawsuits in the USA due to alleged health damages after the use of the herbicide. To reduce the legal risks and associated uncertainties, Bayer announced last Tuesday that it will pursue "new approaches inside and outside the courtrooms."

The translation of the heading to English is:

"For a long time, investors have been criticizing the fact that the corporation has not yet been able to get a handle on this issue. At the end of January, there were still around 54,000 open cases, 2,000 more than in October. The provisions for these cases amounted to 6.3 billion US dollars (5.7 billion euros) at the end of 2023. On Tuesday, Anderson emphasized that glyphosate was safe."

A positive piece of news for investors, however, is that Bayer is making good progress in the development of an alternative to glyphosate. This could contribute to minimizing legal risks and financially relieving the group in the long term. It remains to be seen whether the new product will actually represent the desired alternative to glyphosate. Yet the fact that Bayer is already working on a solution so early on shows that the company is striving to tackle the problems and shape the future positively.

Overall, Bayer remains a strong and innovative player in the pharmaceutical and agrochemical industry despite challenges posed by glyphosate. Progress in the development of the new alternative is an important step in the right direction and could make the company an attractive investment for investors once again.