German chemicals company Bayer has pooled a $2 billion (€1.7 billion) fund to allow it to deal with future legal claims relating to its infamous weedkiller, Roundup.
Roundup
The company is currently embroiled in around 125,000 lawsuits across the world relating to a link between the glyphosate weedkiller and non-Hodgkin's lymphoma, a type of cancer.
Read more: Bayer fails to settle US lawsuits over Roundup health concerns
The fund will provide compensation for those with non-Hodgkin's lymphoma who were in contact with Roundup prior to their diagnosis.
Bayer continues to refute the claims made against the product, stating that decades of research has found no link between cancer and glyphosate and maintains it is safe for human use.
Bayer inherited the product and its associated legal cases when it acquired Monsanto in 2018.
Under the new proposed plan, the chemicals company will deliver the compensation over a four-year period to cover costs of outreach and diagnostic assistance.
The parties can also agree to extend the settlement period.
In a statement, Bayer referred to the settlement as "intended to be one part of a holistic solution designed to provide further closure to the Monsanto Roundup litigation" and to be "part of a holistic solution designed to provide further closure to the Monsanto Roundup litigation."
Read more: Monsanto takeover 'a good idea' despite lawsuits says Bayer CEO
The new scheme awaits approval from US District Court Judge Vince Chhabria, which Bayer confirmed would be submitted this week.
Chhabria has in the past noted his scepticism about the settlement's supposed "adequacy and fairness."
In a prior court hearing with Bayer, the judge also questioned the legality of a prior settlement plan and proposed Bayer assemble a team of scientists rules on the visibility of these claims.
He also raised the question of why future plaintiffs should give up having a jury panel in court to decide if the weed killer causes cancer.
Glyphosate will remain on the market and Bayer sought permission from the US Environmental Protection Agency (EPA) to provide a reference on the backs of Roundup bottles so consumers can find studies on the weedkiller.
The controversy came to a head when a French farmer won his case against Monsanto after he was able to prove to a court a 2004 incident with the weedkiller seriously damaged his health.
Read more: French farmer wins legal battle against Monsanto over Roundup health woes
A number of activist groups have had a vendetta against Bayer for years for continuing to stock the product despite its alleged health impacts.
Back in October, Bayer purchased US-based pharmaceutical company Asklepios in a $4 billion (€3.38 billion) deal as part of an initiative to move into the gene therapy business.
It has been suggested this could be part of a plan to eventually move away from its agricultural business owing to declining sales linked with the Roundup scandal.
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