July 12, 2010 12:52 PM

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Govt. says, providing life saving drugs at affordable prices a challenge

<br/>Government today said that providing life saving drugs at affordable prices is one of the biggest challenges for the pharmaceutical sector. Speaking at a National Convention on Biopharma organised in New Delhi today, Secretary Pharmaceuticals, Ashok Kumar said provision of proper infrastructure to this vital sector is another important challenge. Mr Kumar expressed hope that India will become one of the top five producers of Biopharma by 2020. A total investment of 10 thousand crore rupees is required to achieve this target according to a report of Association of Biotechnology Led Enterprises and Price Waterhouse Coopers. Mr Kumar announced floating of a Venture Capital Fund in which the government will invest 10 to 15 per cent. He added that the rest will be contributed by the industry. He however expressed concern about the market's unwillingness to invest in drug research and development.<br/><br/><br/>

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