What is Pharmaceutical Management
Pharmaceutical Management is an MBA course that is picking momentum among Pharma enthusiasts. It is one of the most popular Master’s pharmaceutical courses that are offered by Universities and Colleges in India.
The reason behind this course’s popularity is that it is an interesting cross between two very different disciplines. During the MBA Course in Pharmaceutical Management, a student learns Pharmaceutical concepts that are skillfully integrated with Management fields.
Moreover, with the current situation, COVID pandemic and medical emergencies, the pharmaceutical industry of India has come under the limelight. The pharma sector was one of the constantly growing and developing industries, and these dynamics have only improved in the current situations.
A candidate, after his/her completion of the MBA in Pharmaceutical Management, is expertly crafted and is qualified to take up almost every job in the pharmaceutical sector.
Eligibility Criteria (UG & PG) of Pharmaceutical Management
The Eligibility Criteria for students interested in pursuing a Masters of Business Administration in Pharmaceutical Management are as follows:
● The interested candidate must have an undergraduate degree that is a minimum of 3 years with at least 50 per cent marks in aggregation, from a recognised educational institution.
● The candidate must have studied any of the following subjects: Botany, Chemistry, Physics, Biology, Zoology, Biotechnology, Biochemistry, Pharmacy, Medical Sciences, Agriculture, Ayurveda, Applied Sciences, and B.Sc., Management, among others.
● Work experience is preferred by a few institutions but is not compulsory.
Entrance Exams for Pharmaceutical Management
The entrance exams for MBA in Pharmaceutical Management are as follows:
CAT - Aspirants must clear the CAT or the Common Admission Test examination to attain admission in any Indian Institute of Management (IIM) in India.
MAT - Management Aptitude Test or MAT is yet another entrance examination that is conducted across India and is a popular criterion for many Management Institutions.
Apart from these two examinations, there are several other examinations that a prospective MBA Pharmaceutical Management student can appear for.
These examinations are often conducted by private management institutions or state governments as a part of their selection process. The following are other popular entrance exams conducted in India: CMAT, SNAP, and NMAT.
College Predictors VIEW ALL
Scope of Pharmaceutical Management in India and Abroad
The Pharmaceutical Industry, globally, has seen a vast improvement in terms of sales as well as medical developments. According to a report, pharmaceutical sales are expected to hit a whopping amount of 1.5 trillion USD.
Consequently, the Indian Pharmaceutical Industry has seen rapid growth over the years and is predicted to grow both in terms of sales volumes as well as market sizes.
The advent of the COVID Pandemic changed things for the Pharma Industry across the globe. Now, there is tremendous scope in this field, both for existing market players as well as the newly developing forces.
Yet another development in this field is that several MNCs are looking to expand in the Indian markets and vice versa.
Indian Pharma companies are taking lead in several medical developments and are looking to expand overseas. We all know this means more employment opportunities!
Therefore, it is safe to say that there are exponential growth opportunities in the field of Pharmaceutical Management both in India as well as abroad.
Course Fees Pharmaceutical Management
| Minimum Fees | Maximum Fees | |||
|---|---|---|---|---|
| Private | Government | Private | Government | |
| UG |
99.00 K
B.Voc. in Pharmaceutical Management at SRM University, Sikkim
|
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Data not available
|
10.10 Lakhs
B.Pharma MBA in Pharmaceutical Management at Narsee Monjee Institute of Management Studies, Hyderabad
|
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Data not available
|
| PG |
40.00 K
P.G.D in Pharmaceutical Management at ICFAI University, Jaipur
|
1.52 K
P.G.D in Pharmaceutical Management at Maharaja Ganga Singh University, Bikaner
|
16.00 Lakhs
MBA in Pharmaceutical Management at School of Business Management SVKM's Narsee Monjee Institute of Management Studies, Mumbai
|
5.48 Lakhs
MBA in Pharmaceutical Management at National Institute of Pharmaceutical Education and Research Hyderabad
|
| DIPLOMA |
60.00 K
Diploma in Pharmaceutical Management at NIMS University, Jaipur
|
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Data not available
|
60.00 K
Diploma in Pharmaceutical Management at NIMS University, Jaipur
|
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Data not available
|
Course Subjects
Here are the course subjects that students are required to study as a part of the Pharmaceutical Management Course. This list may vary depending on the University or College’s Course Requirements. Students are to study both theoretical and practical concepts.
Marketing
Healthcare economics
Pharmacology
Anatomy and physiology
Careers in Pharmaceutical Management
Pharmaceutical Management graduates are in great demand not just for conventional job roles but also in several other sectors like the education industry.
Unlike M. Pharmacy graduates, MBA Pharmaceutical Management graduates are a great fit for jobs with a management background.
The candidates get trained in various business aspects such as marketing, sales and financing, making them very desirable to top companies in the Pharmaceutical Industry.
This field not only has requirements for positions such as pharmacists, researchers, market analysts, chemists and other technicians but also managerial positions such as store management, sales and marketing professionals, financial analysts, and supervisors.
India’s Pharmaceutical Management field has openings in both government-run organisations and well as private-based organisations. Some other institutions that can offer PM graduates solid careers are educational institutions, research institutions, government departments, hospitals, pharmaceutical companies, and Pharma development companies.
Upcoming trends
The Pharmaceutical Industry in our country is one of the most growth-oriented sectors, in terms of size, volume and technological advancements. Several trends are shaping up in this field that is worth mentioning. Here are some major upcoming trends that have been observed in Pharmaceutical Management.
Technological advancements are rapidly being made not only in the core area of Pharma but also in the Management department. The current trend in Pharmaceutical Management is the distribution of new technology among all operational processes.
Technology is being introduced in the supply-chain division of Pharma. AI and Machine Learning Technologies are being used to integrate all the logistical processes. Data Analytical tools are being used for integration processes.
Pharma companies are slowly shifting ERP Systems for smooth management and administration. Pharma Candidates with strong technical backgrounds are finding these developments extremely beneficial.
Job Profiles and Top Recruiters
Pharmaceutical Management Job Profiles
The basic criterion for a mining enthusiast to become a mining engineer is to attain a legitimate degree from a legally recognised academic institution. Upon successfully attaining the degree certificate, various kinds of mining engineer job profiles in several experience levels will be available to the freshly graduated engineers. The following are major job profiles available in the Indian Mining sector currently.
Job Profile | Description |
Market Research Analyst
| This job profile’s responsibilities include collecting clientele information as well as information of competitors and well as other market forces. As the title suggests, the job holder must collect data and process it into business insights that would aid in achieving business targets and organisational goals. He/She is the backbone of any Pharma Company as the company’s operations depend on the research conducted by him/her. |
Quality Assurance Manager
| Importance of Quality Assurance has picked up pace in the present Indian market, given to the increase in the number of faux drugs and pharmacies. Quality Control and timely examination of a pharma company’s drugs and products are some of the many responsibilities a quality assurance manager has. He handles permission controls during the time of manufacturing, to ensure approved and healthy production is practised. |
Drug/Pharmaceutical Store Supervisor
| A drug store supervisor is a drug specialist who needs to manage the everyday operations of the drug store. He deals with the orders and looks after records. He is in charge of administering solutions by following standard functioning systems for accepting, filling, dispensing, logging, and keeping up the loss check controls. |
Drug Inspector | The drug inspectors work to guarantee that items are secure for human utilisation. Their fundamental duty is to inspect sustenance or pharmaceuticals at different phases of the assembling procedure to guarantee quality norms are being met. The experts likewise promote, taking advanced positions as consumer safety officers who usually are in-charge of enacting the security methodology and outlining examination systems for pharmaceutical items. |
Top Recruiters in Pharmaceutical Management
Here are a few top organisations that recruit professionally honed Pharma Graduates regularly. Most of them have their screening processes and allocate the recruited employees with tasks that suit their skill sets the most.
● Directorate of Industries and Commerce, Nagaland
● Ranbaxy Laboratories
● Dabur India Ltd.
● ACG Worldwide
● Abbott Laboratories
● Laurus Laboratories Ltd
● Regeneron Pharmaceuticals
● Bayer
● Biocon
● Pfizer
● Novartis
● Zydus Cadila
● Allergan
● Genzyme
● USV Limited
● Sun Pharma
● Vergo Pharma
Average Salary
A student, before deciding which course to pursue, weighs in the salary he/she may get after attaining the course. Prospective students need to have an idea of how much they will earn if they take up a course. A Pharma Management graduate’s salary is ascertained after considering several factors. Experience, skills, and qualifications are a few of these factors. Find the average salaries of Pharmaceutical Management jobs according to their profiles:
Job Profile | Average Salary per annum |
Market Research Analyst | Rs. 5-6 Lakhs p.a. (Approx.) |
Quality Assurance Manager | Rs. 5-7 Lakhs p.a. (Approx.) |
Drug Store Supervisor | Rs. 4-5 Lakhs p.a. (Approx.) |
Drug Inspector | Rs. 4-5 Lakhs p.a. (Approx.) |
Note: The above figures are a mere estimation of salaries and may vary from organisation to organisation, depending on their criteria.
Required Skillset for Pharmaceutical Management
Apart from the given technical skills, recruiters also look for a set of skills among aspiring candidates. For you to stand out and grab a recruiter’s attention, you must be thoroughly skilled in the following areas:
- Communication and Presentation - Since Pharma processes run from developing and producing drugs to selling them, people working in this sector must be excellent communicators. To communicate and coordinate well with colleagues as well as consumers, candidates should have good communication skills.
- Stress Management - The candidate should be able to think critically and logically. He/She must work well under pressure and be solution-oriented.
- Project Management - The Pharmaceutical Industry is a vast field, and a professional here is often made to be a part of several medical projects. A skilful candidate must be able to manage projects and administer roles and responsibilities effectively.
- Confidence and People Skills - A Pharma job involves constant contact and communication with people. This requires the candidate to have the appropriate people skills. He/She must be confident about his/her abilities and skills.
- Management Skills - An MBA Pharma Graduate would be thoroughly trained in all managerial aspects such as sales, marketing. Apart from these fundamental skills, a candidate must also be able to effectively manage time, plan and prioritise his/her work.
- Creative, Innovative and Technical Skills
Course Curriculum for Pharmaceutical Management
Pharmaceutical Management has a unique course curriculum in comparison to other regular MBA courses. The Course Curriculum of this program is an integration of both Pharmaceutical Sciences and Management Sciences.
This course covers subjects that are a cross of the Pharmaceutical and management disciplines such as Pharma Technology, Pharmaco-economics, Strategic Pharma Management, Pharmaceutical Regulatory Affairs, and Pharmaceutical Financial Management.
The curriculum for Pharmaceutical Management also covers generic management concepts such as project management, supply chain management, and sales and marketing. Being a Master’s Program, the course curriculum sometimes also includes live capstone projects and fellowships.
Popular Pharmaceutical Management Entrance Exams in India
Popular Pharmaceutical Management Colleges in India VIEW ALL
DIPSAR
- Fees: ₹ 210000
NIMS University, Jaipur
- Fees: ₹ 400000
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Singhania University, Jhunjhunu
- Fees: ₹ 160000
NIPER Mohali
- Fees: ₹ 390740
Frequently Asked Questions (FAQs)
Question: What are some specialisations offered in MBA Pharmaceutical Management?
Answer :
Since it is a Master’s course, several colleges and universities offer specialisations in Pharmaceutical Management, a few of which are:
- Pharmaceutical Policy, Laws & Regulations
- Pharma Sales & Marketing Management
- Pharma Production and Product Management
- Financing Pharmaceuticals
Question: How many colleges in India offer MBA in Pharmaceutical Management?
Answer :
According to online sources, there are around 50 Universities/Colleges that offer MBA Pharmaceutical Management courses. There are, however, very few government institutions offering this course.
Question: How long does it take to complete Pharmaceutical Management?
Answer :
The MBA course in Pharmaceutical Management is 2 years of duration. After the completion of the Master’s course and receiving the certificate, the candidate can seek jobs.
Question: M Pharmacy or MBA in PM, which is better?
Answer :
Both the courses are great in terms of curriculum and skill development. However, choosing the right Master’s course depends on what the candidate’s career objectives are. If he/she is looking to work as an administrator or a general manager in the Pharmaceutical Industry, an MBA in PM would be the right choice, since the course covers aspects of sales, marketing and finances along with fundamental Pharma concepts.
If the candidate prefers a mainstream career in the Pharmaceutical Industry and would want to research and develop products, he/she can go for M Pharmacy.
Question: What kind of course background or interests do I need to take up Pharmaceutical Management?
Answer :
As it is a master’s course, a candidate must have a degree relevant to the Pharma Management Course. He/she should have a certain amount of experience in the Pharmaceutical Industry before taking up an MBA in PM. The course is also management-oriented; a candidate who has the previously mentioned background and who also is interested in administration and management would be a perfect fit for this course.
Questions related to Pharmaceutical Management
Showing 375 out of 375 Questions
4 Views
I HAVE COMPLETED BPTH (BATCHLER IN PHYSIOTHERAPY)FROM RUHS JAIPUR AND PGDPSM (POST GRADATE DIPLOMA IN PHARMACEUTICAL SALES MANAMENTS I WANT BECOME CLINICAL RESEARCH CO-ORDINATOR AND PLEASE GUIDE ME WHAT OTHERS SECTOR THAT BEST FOR ME IN FUTURE
5th Nov, 2024
As you hold qualifications with B.PTh. and PGDPSM, you can specialize in pharmaceutical industries as well as healthcare sectors. Some of the career options are listed below.
Healthcare Sector:
Clinical Research Associate (CRA): PGDPSM in Pharmaceutical Sales Management will make it easier for you to work in the role of a CRA, within either CROs or pharmaceutical companies. Your responsibility would be to monitor clinical trials, collect data, and meet the regulatory standards in place.
Medical Sales Representative: Use the background in B.PTh. and communication skills to sell pharmaceuticals to health care professionals. Health care requirements and patient care can also be useful for the sales representative.
Regulatory Affairs: Work in the regulatory affairs departments of the pharmaceutical companies with issues like regulatory submissions, drug approvals, and compliance.
Clinical Data Management: Use the knowledge of medical sciences along with data management capabilities while working in clinical data management organizations.
Healthcare Consultant: There are consulting services in regard to clinical trials, regulatory affairs, and medical marketing for healthcare organizations.
Other Courses:
Healthcare Sales: Health care products and services that you can sell to hospitals and clinics and even pharmacies use your PGDPSM acquired skills.
Pharmaceutical Sales: Stay on within the pharmaceutical field selling product and services.
Medical Writing : Write articles for medicine as well as research paper and Clinical trial reports.
Healthcare Administration: Hospital administration, healthcare management, or health insurance
Skills can be further developed through:
Continuing Education: Advanced degrees in Master's in Public Health or specialized certification in clinical research or regulatory affairs
Networking: Good relationships with healthcare professionals, industry experts, and alumni
Professional Development: Conferences, workshops, and webinars on industry trends and regulations.
You can establish your name by getting good clinical practice or any other certificates.
Thus, good clinical practice and PGDPSM together can help you establish a remarkable career in healthcare service.
Answer later 15 Views
what is the scope of pharmaceutical MBA
7th Aug, 2024
hello student
An MBA in Pharmaceutical Management offers a promising career path in the rapidly growing healthcare industry. It equips professionals with the necessary business acumen and pharmaceutical knowledge to excel in various roles within the pharmaceutical sector.
Key Areas of Scope:
1. Sales and Marketing:
- Product management
- Market research and analysis
- Sales strategy development
- Brand management
- Medical representative
2. Research and Development:
- Product development
- Clinical research management
- Regulatory affairs
- Intellectual property management
3. Operations and Supply Chain:
- Manufacturing and production management
- Supply chain optimization
- Quality assurance and control
- Logistics and distribution
4. Business Development and Strategy:
- Strategic planning
- Business development
- Mergers and acquisitions
- Market entry strategies
5. Pharmaceutical Consulting:
- Healthcare consulting
- Regulatory consulting
- Market access consulting
- Pricing and reimbursement strategies
job profiles:
- sales manager
- Market Researcher and Drug Developer
- drug distribution manager
- pharmaceutical purchasing manager
- pharmaceuticals distributors
- Formulation Pharmaceutical Technology Scientist
- Business Development Manager
- Quality Assurance Manager
an MBA in Pharmaceutical Management provides a solid foundation for a successful career in the dynamic and rewarding pharmaceutical industry. With a combination of business acumen and pharmaceutical expertise, graduates can contribute significantly to the development and delivery of life-saving medicines.
3 Views
I have completed my degree in M.Sc in pharmaceutical chemistry but I do not want to work in this field...what should I do inorder to change my working field without having to study further?? (currently working in an industry)
18th Aug, 2024
Hy,
If you've completed an M.Sc in Pharmaceutical Chemistry but want to shift your career focus without further formal education, you have several options to consider. Here's a step-by-step guide to help you transition to a new field:
1. Identify Transferable Skills
Assess Your Skills:
- Technical Skills: Lab skills, analytical skills, research abilities, data analysis.
- Soft Skills: Project management, communication, teamwork, problem-solving.
Match Skills to New Fields: Identify industries or roles where your skills are applicable. For instance, your analytical skills could be valuable in data analysis, quality control, or management roles.
2. Explore Alternative Career Paths
1. Business and Management:
- Roles: Project Manager, Business Analyst, Operations Manager.
- Skills Needed: Leadership, strategic planning, operations management.
2. Data Analysis and Data Science:
- Roles: Data Analyst, Business Intelligence Analyst.
- Skills Needed: Data analysis, proficiency in tools like Excel, Python, or R (often learnable through online courses).
3. Regulatory Affairs:
- Roles: Regulatory Affairs Specialist, Compliance Officer.
- Skills Needed: Knowledge of regulatory requirements, attention to detail, documentation.
4. Sales and Marketing:
- Roles: Sales Representative, Marketing Coordinator, Product Manager.
- Skills Needed: Sales techniques, marketing strategies, customer relations.
5. Quality Assurance/Quality Control:
- Roles: QA/QC Specialist, Quality Manager.
- Skills Needed: Quality management systems, regulatory knowledge, attention to detail.
6. Education and Training:
- Roles: Corporate Trainer, Educational Content Developer.
- Skills Needed: Training abilities, communication, curriculum development.
6 Views
m.pharmacy chemistry and pharmaceutical fees per semester
15th Jul, 2024
Hy, The fees for M.Pharmacy in Chemistry and Pharmaceutical subjects can vary significantly depending on the institution, whether it's a government or private college, and its location.
In government colleges or universities, the tuition fees for M.Pharmacy programs are usually lower. On average, you can expect to pay anywhere between INR10,000 to INR 50,000 per semester, depending on the specific specialization and the institution.
Private colleges tend to have higher tuition fees for M.Pharmacy courses. The fees can range from INR 50,000 to INR 2,00,000 or more per semester.
8 Views
hi sir my rank in ojee is 2093 in b pharm can i get addmission in sri jaydev college, hi- tech, Indira Gandhi Institute of Pharmaceutical Sciences
6th Jul, 2024
Hy,
Admission in you preferred colleges will depend upon various factors such as the number of seats available, the number of applicants, and the reservation categories. These factors vary every year. However, looking at the past year trends and with your rank 2093 in OJEE you stand a good chance in securing admission in the mentioned colleges.
It is suggested that you take active part in OJEE counselling sessions and choose your preferred college accordingly.
