Bayer devotes funds to research glyphosate alternatives

$5.6 billion of Bayer's research and development budget will go towards exploring alternatives to the controversial weed killer.

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According a report by Fortune, Bayer AG will pump about $5.6 billion of its research and development budget into alternatives to its weedkiller glyphosate over the next decade as it battles more than 13,000 lawsuits claiming the herbicide causes cancer.

Trying to ease concerns about the controversial compound, the German chemical and drug company said it will seek more public feedback during the coming safety certification process in Europe. Bayer wants to offer farmers new products to combat weeds while standing behind glyphosate-based Roundup, which it acquired via its $63 billion purchase of Monsanto.

“While glyphosate will continue to play an important role in agriculture and in Bayer’s portfolio, the company is committed to offering more choices for growers,” according to a statement Friday.

Read the full story from Fortune here.