Centre to set up VC for drug cos

Jul 13, 2010 |

Correspondent

New Delhi, July 12: The government proposes to set up a Rs 3,000 crore venture capital fund for giving a fillip to drug discovery and strengthening the pharma infrastructure in the country, according to Mr Ashok Kumar, secretary, department of pharmaceuticals.

Mr Kumar said that National Institute of Public Finance and Policy is set to finalise the bid document and the expression of interest for setting up the fund, which will be issued this month.

Mr Kumar said that the government had issued an expression of interest for technical and financial bids for the selection of a consultant for preparing a det-ailed project report.

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