HYDERABAD: The Union Government is considering a proposal to set up a ‘Pharma Fund’ to encourage innovations, R&D activities and drug discovery. Disclosing this on the sidelines of valedictory of BioAsia 2010 here on Saturday, Secretary, Department of Pharmaceuticals Ashok Kumar said that National Institute of Public Finance would be advising on creation of this ‘10-year close- ended fund’. Mr. Ashok Kumar indicated that the fund would be around Rs.2,000 crore to Rs.3,000 crore and it could also have subsidiary funds for medical devices etc.