Bayer agrees to settle Roundup cancer lawsuits for up to $10.9 billion

Bayer AG agreed to settle US lawsuits claiming that its widely-used weedkiller Roundup caused cancer for as much as $10.9 billion after more than a year of talks, resolving litigation that has hit the company's share price.

The German drugs and pesticides maker has come to terms with about 75 per cent of the current Roundup plaintiffs, involving about 125,000 filed and unfiled claims overall, it said in a statement on Wednesday.

The settled cases account for about 95 per cent of those currently set for trial, it added.

"The Roundup settlement is the right action at the right time for Bayer to bring a long period of uncertainty to an end," Bayer Chief Executive Werner Baumann said.

The company added it will make a payment of $8.8-$9.6 billion to resolve the current Roundup litigation - including an allowance expected to cover unresolved claims - and $1.25 billion to support a separate class agreement to address potential future litigation.