The pharmaceuticals industry has seen huge growth in India over the past few years. This is also one of the sectors that have sailed through recession not affected much. Thus, the industry has become quite attractive for professionals. To cater to this demand, many educational institutes are now offering a separate programme in pharmaceutical marketing known as an MBA in Pharma. The programme is well-equipped to the growing demands of the industry and to produce such candidates who can take up challenging roles in the pharmaceutical industry.
An MBA in Pharma is best suited to such graduates who aspire to make a career in this industry. Also, those who are already employed in the pharmaceutical industry but do not possess a management qualification can go for MBA in Pharma to advance their career. With an MBA, they can move into managerial roles. Also, an MBA in Pharma makes one eligible for jobs such as Medical Representative, Sales Executive, Area Business Manager, Product Manager, etc in renowned pharmaceutical firms and even enables one to start an entrepreneurial venture in this field.
If you also wish to pursue an MBA in Pharma, it would be good to get in-depth knowledge about the industry and its function. A pharmaceutical company manufactures various medicines and drugs for Ayurvedic, Homeopathic or Allopathic treatments. The medicinal drugs are then supplied to retailers so that they could reach the end users. However, before that the drugs have to be marketed well. Thus, in the pharma industry, after the production, the product has to be marketed and distributed well before it can reach the end user.
The career avenues in pharmaceutical marketing are huge. Marketing executives are the key players in pharmaceutical marketing sector. Thus, an MBA in HR prepares one to take up lucrative jobs in pharmaceutical marketing. Starting career as a medical representative or business development executive, one can easily advance to become Area or District manager after two to three years of experience in this field. With an experience of over six years, one can become a regional manager in a pharmaceutical company. Thus, there are options galore after joining the pharma industry as a management graduate. To pursue an MBA in pharma, one has to be a graduate in any discipline, though science and pharma graduates are preferred. However, for the past few years even, non-science graduates are also opting for an MBA in pharma as the companies are now more open to hire even non-science graduates for the marketing and sales positions in the industry.
The curriculum for MBA in pharma covers the following subjects: Pharmaceutical Marketing Management, Pharma Selling, Anatomy, Physiology and Pharmacology, Pharma Product Management, Production Planning, Pharma Distribution Management, Customer Behaviour, Advertising, Pharmaceutical Marketing Communication, Market Research, Manufacturing Practices in Pharmaceutical Industry, Drug Laws, Economics, Qualify Control Management, and Fundamentals of Management. In the curriculum, practical training is also imparted to students along with case studies and a general introduction to information technology.
The objectives of the course are to produce professionally-qualified executives for the pharmaceutical industry and to inculcate effective management skills in them. This will help them tap into their unutilized potential and prepare them to perform better in a fast-changing and competitive global environment. The MBA programme also strengthens and trains the students in modern and recent management, marketing, selling and production skills and techniques apart from making them technically adept. The MBA opens up the career options of the students in this industry and also prepares them to face interviews and tests for jobs in the pharmaceutical industry in various companies. The course also instills soft skills in students such as good communication skills, decision making abilities, confidence building and an overall enhancement of the personality.
With the domestic players in this industry expanding their operations and multinationals setting foot in the industry, the demand for qualified professionals has definitely shot up and well-qualified candidates with the right skill sets are being lapped up by the industry with open arms. Thus, the roles are becoming more diverse and pharmaceutical companies require staff to cater to the challenges of the market. Thus, an MBA in pharma is the best route to enter the industry and make a winning career here.
About the author
Geetika jain writes on behalf of Shiksha.com. Shiksha.com is an education portal that connects education seeker with education provider. Shiksha.com has wide information over study abroad colleges, student’s community and courses. Its education forums enable its users to seek opinion of students, alumni and faculty of colleges and schools through College Groups and School Groups.
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