Career In Pharmaceutical Management: Pharmaceutical Management is a field of control courses, which deals with the fitness and chemical sciences and focuses on using pharmaceutical drugs in the best possible and safe way.
A career in pharmaceutical management leads to work in the field of drug development, discovery, research, pharmaceutical administration, and nursing. By pursuing the management course in the field of pharmaceuticals at the post-graduate level the student can able to learn advanced pharmaceutical management, business concepts in the pharmaceutical industry, and various other advanced subjects.
Career In Pharmaceutical Management
There are various colleges of pharmaceutical management and institute in India that basically focuses to provide the learning of pharmaceutical management with the latest business concept and regulatory affairs in the pharmaceutical industry.
The student who is seeking to make their career in pharmaceutical management needs to pursue the course at the graduate or at post-graduate level. There are various colleges in India that are providing Pharmaceutical management courses with the latest academic curriculum that includes financial management, economics & law in the field of pharmaceuticals The course of pharmaceutical management is designed in such a way that the student will be introduced to the new case study and development in the area of pharmaceutical.
- Pursuing a course in the field of pharmaceutical management can leads to you in managerial positions within the pharmaceutical industry.
- It develops your talents in planning & running control techniques, acquiring consultancy abilities, and solving control problems.
- The primary objective of those courses is to build professional and powerful specialists for the Pharmaceutical sector
Pharmaceutical Management Courses & Eligibility
If you are willing to make a career in pharmaceutical management then you need to pursue a course whether it can be an undergraduate or at the post-graduate level. There are various colleges and universities in India that are offering pharmaceutical courses with the best in class academic curriculum and job placement in top companies in the pharmaceutical sector.
The list of courses is been shared with you at UG & PG level to make your career in pharmaceutical management:
- Diploma in Pharmaceutical Management
- Advanced Diploma in Pharmaceutical Business Management
- BBA plus Diploma in Business Administration (Pharmaceutical)
- Master of Business Administration in Pharmaceutical Management Executive
- Master of Business Administration in Pharmaceutical Management
- Post Graduate Diploma in Pharmaceutical Management
- MBA in Pharmaceutical Industry Management
- PG Course in Pharmaceutical Management
- Post Graduate Diploma in Pharmaceutical Management
For UG courses: In order to apply for the UG Courses in Pharmaceutical Management then need to complete the 12th standard from a recognized board. The selection process will differ from one institution to another but universities will have set criteria of considering at least 50% aggregate in the qualifying examination.
For PG courses: The student who is seeking to apply for the postgraduate course in pharmaceutical management needs to have a bachelor’s degree in the same file from any recognized college or university.
Scope of Pharmaceutical Management
The base of the pharmaceutical industry has increased rapidly over the years. The total worldwide sales of medicines have been reached 1.08 trillion USD in the year 2011 and are expected to reach about 1.5 trillion USD by the year 2020. So there is an immense growth chance in the field of the global pharmaceutical industry. The main contributor to the growth of the pharmaceutical industry is largely coming from emerging markets.
- India is expected to lead in the ranking index of the global pharmaceutical innovation hub by the year 2020. The latest decision was taken by the Indian government which allows the opening of investment by the public sector through the model of public-private partnership can create lots of job opportunities for the brighter students in the pharmaceutical sector.
- The above factors point out to move the Indian pharmaceutical sector in one direction that will be more feasible and attractive to make a career in pharmaceutical management. The growth of any sector is directly proportional to the increase in demand for human resources or skilled workers.
Future & Career in Pharmaceutical Management
The pharmaceutical sector comes with lots of good opportunities as the demand for medical services cannot demolish. If we talk about the opportunities in the field of pharmaceuticals it cannot be limited to the researcher, drug inspector, a scientist but the role of management position is also in demand.
The student will find good job opportunities in different segments of the pharmaceutical industry that will include working in government departments, research institutions, pharmaceutical universities, hospitals, and other medical service providers.
The demand for managerial positions in Pharmaceutical companies is increasing day by day as the companies will require that there will be a good number of skilled workers available to work in the management of transactions of all other activities.
There are various options available after pursuing the course in pharmaceutical management and the positions have been listed below for your reference:
Sales Managers in the field of pharmaceuticals will be responsible for the sales and marketing of medical equipment and medicines in the market. The responsibilities of the sales manager are to improve the sale of pharma products and to capture the market.
Market Research Analyst
This position is equally important to any other position in the pharmaceutical industry. The job responsibilities of the market research analyst are to search for business opportunities, research client details, and organise the data in a structured way that can help the company to fulfill its business goals.
Quality Assurance Manager
The role of the Quality Assurance Manager is a crucial one in the pharmaceutical company as it would require you to perform various quality checks at the different levels of production. Then you need to make sure as a quality manager that during the production of the product it needs to be passing through various set benchmarks.
Drug Store Supervisor
The role of the Store Drug Supervisor is to maintain the records of the available medicine in the store, sell medical products, advising to the consumer about the products.
The role of the Drug Inspector in the company is very challenging as it would require individuals to make sure that the discovered drug is safe for consumption purposes by humans. Drug inspectors are needed in every cycle of the manufacturing of medical products.
Salary In Pharmaceutical Management
The student who will complete their studies in the field of pharmaceutical management can expect the average pay scale that will be offered to MBA graduates is in the range of 4 lakh to 8 lakh per year. But the salary package depends upon two factors will include the skill set of the student and the college from which they graduated. Completing a certain year of service can boost the salary package to another level.
Frequently Asked Questions
There are various prestigious colleges in India that offer pharmaceutical management course including Delhi Pharmaceutical Science, Jamia Hamdard, Chitkara University, IIMR Pharma Business School, etc.
The top companies include Ranbaxy Laboratory, Sun Pharma, Biocon, Pfizer, Dabur India, Abbott Laboratories, etc.
The student needs to hold a bachelor’s degree in pharmaceuticals and there are various entrance tests conducted by the colleges/institution level. The entrance test will be CAT, MAT, XAT, CMAT, SNAP, etc.
The post is available in the field of pharmaceuticals such as Sales Manager, Pharmaceutical Distributor, Market Researcher, Business Development Manager, Purchase Manager, etc.