By bizn_fun 
Bill Anderson, chief executive of Bayer, which bought Monsanto eight years ago for $63bn, said he expected the vast majority of people with pending claims to sign onto the new proposed settlement. It relates to patients with non-Hodgkin lymphoma, a kind of blood cancer.
“This doesn’t work unless there is closure,” he said.
Roundup was developed by Monsanto in the 1970s. Its active ingredient is glyphosate, which the International Agency for Research on Cancer, a unit of the World Health Organization, identified in 2015 as a probable human carcinogen.
Bayer and some other regulators, including the US Environmental Protection Agency, have disputed those findings.
But the issue has forced the company through years of costly litigation in the US, as juries in several states opt to award billions of dollars to users of the herbicide.
Bayer, which said it has so far resolved more than 130,000 claims, is still facing an additional 65,000 as well as a risk that others could emerge in the years ahead, due to how long it can take for the cancer to develop.
Under the terms of the proposal, anyone exposed to Roundup before 17 February this year and diagnosed with non-Hodgkin lymphona within 16 years is eligible for payment.
Unlike a prior 2020 settlement, this deal would address both existing and future claims related to the development of non-Hodgkin lymphoma.
The company said it would make payments over 21 years, with the bulk of the payouts expected in the first five years.