Bayer CEO: Roundup is 'safe,' and litigation is driving prices up

Life sciences company Bayer (BAYRY, BAYN.DE) isn't breaking itself up right now. Bayer CEO Bill Anderson says, "This is not a good time to be... breaking up the firm," given the company's need to rebuild its pharmaceutical pipeline and battle the ongoing litigation stemming from the weedkiller Roundup.
When it comes to the Roundup lawsuits, Bayer has "adequately provisioned" for the costs of those suits, Anderson says. Overall, "the fundamental fact is, that glyphosate, Roundup, is safe," Anderson states, adding that Bayer is "a scientifically-driven company and we have this litigation thing that's not scientific."
On the pharmaceutical business, Anderson says the group is "in a bit of a transition phase." "We got a couple of major medicines that are losing patent protection over the next few years. So we are busy rebuilding the pipeline right now," he tells Yahoo Finance.
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