(Bloomberg) -- Bayer AG will set aside $4.5 billion in the second quarter to cover potential future exposure tied to its Roundup weedkiller.

The additional provisions come on top of the $11.6 billion Bayer has previously said it plans to spend to resolve the Roundup litigation. That puts the potential overall costs at more than $16 billion, Chief Financial Officer Wolfgang Nickl confirmed on a call with investors.

“This should remove uncertainty and ambiguity that’s been weighing on the company,” Chief Executive Officer Werner Baumann said on the call. That’ll allow shareholders to focus on Bayer’s performance and the quality of its business units, he said.

Bayer still hopes the U.S. Supreme Court will “largely end” the Roundup litigation with a ruling supporting the company, Baumann said. However, the scenario that includes the $4.5 billion outlay is now the “base case,” he added.

The shares rose 1.6% to 51.32 euros in Frankfurt, after initially falling after the announcement. The stock has gained 6.5% this year.

The statement marks an update to the German company’s “five-point” plan for handling future litigation tied to the weedkiller -- which plaintiffs claim caused their cancer but Bayer insists is safe. Bayer confirmed a plan to remove glyphosate, the active ingredient in Roundup, from residential products in the U.S. starting in 2023.

(Updates with CEO comment in third paragraph, shares in fifth)

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