Glyphosate, a key product that is used by a number of farmers, could be coming to an end.
Bill Anderson, the CEO of Bayer, noted on Wednesday that the company will be forced to end its US production of glyphosate, unless regulatory or legal changes are made to prevent litigation.
"Basically it comes down to we will either find a solution on these things or we will be exiting the business. We'll be shutting down production. We don't think that makes sense. We don't think it's a good idea, for example, for the US that has such a massive interest in food production for its people and for export. So you basically have no internal supplier of one of the most essential tools, but that's where we are."
He noted that the companies been exposed to these lawsuits for a decade now.
"We're basically saying, 'Hey, unless something changes with that situation, we're gonna have to stop producing glyphosate because it's just simply not viable."
The German-based company has been plagued by numerous lawsuits connected to the product.
Aanderson made the comments during a media call after the release of Bayer's detailed quarterly results.