One thousand crore fund for Pharma Start-ups likely

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Indian Express reports that the Union government is planning to come out with a Rs 1,000 crore venture capital fund to promote start-ups on drug discovery.

Addressing the inaugural round-table session on ‘Bio and Pharma 2015’, organised by the Confederation of Indian Industry in Chennai,  Union joint secretary of Department of Pharmaceuticals M Ariz Ahammed said that the idea was in the nascent stage and refused to divulge further details.

“The disease burden in India is shifting from communicable to non-communicable and the drugs available are already patented. Post-WTO, there is an urgent need to discover new drugs or else affordability would be a big issue,” he said.  

Source: http://www.newindianexpress.com/business/news/Rs-1K-cr-VC-Fund-for-Pharma-Start-ups-likely/2015/08/27/article2995210.ece



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