Argentina to devise compensation plan for biotech companies

09/24/2004 | Reuters

Argentina's government is working on a compensation plan through the creation of a "technology compensation fund," to be given to technology companies. The idea comes as Monsanto is asking for royalties on its Roundup Ready technology, which was used without permission in the country to such an extent that the U.S. company said it would stop selling its soybean seeds there. Argentina, the third-largest soybean producer in the world, plans to draw up a legislative proposal within 90 days to cover the reimbursement.

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