Pharmaceutical management scope in India

An MBA in Pharmaceutical Management is one of the greatest possibilities for those who want to enter the pharmaceutical sector on a managerial level. In addition to pharma-financial topics, the course includes strategic administration, information administration, and analysis as core administration topics. Suppose they are interested in furthering their education. In that case, holders of an MBA in Pharmaceutical Management can enroll in doctoral-level courses in pharmaceutical economics, Health Systems Pharmacy Management, etc. 

After earning an MBA in Pharmaceutical Management, job seekers can work as drug distribution, sales, or marketing managers for reputable pharmaceutical firms. In this blog, let’s learn about the scope of an MBA in pharmaceutical management in India.

Scopes after completing an MBA in pharmaceutical management

The pharmaceutical industry is one of India’s fastest-growing business sectors, with a strong interest in productive labor. Globalization and progress are unavoidable tendencies that are rapidly invading the industry. According to a report by Equity Master, the Indian pharmaceutical sector is the third largest in volume and the 13th in esteem. India is the world’s largest provider of generic pharmaceuticals, accounting for 20% of global exports in terms of volume.

Higher education in pharmaceutical management

The Post Graduate Diploma in Pharmaceutical Management program is a highly specialized master’s degree that combines concepts from science, business, and leadership. It gives a comprehensive knowledge of enterprise and technology and significantly influences organizational and pharmaceutical essentials. The program focuses on creating new pharmaceutical products and services and provides various employment options. Those interested in the industry can consider enrolling in the program to improve their knowledge and abilities.

Career opportunities in pharma after MBA

An MBA in Pharmaceutical Management is the finest option for individuals who want to work in the pharmaceutical business. MBA Pharmaceutical Management students can find work in sales, marketing, product research and development assistance, market analysis and research, product executive, marketing strategy, project management, and other fields.

Job roles and salary in pharmaceutical management

• An MBA in Pharmaceutical Management opens up many work and career opportunities. Fresh graduates of the program can readily expect annual salaries ranging from INR 10,00,000 to 30,00,000.
• MBA in Pharmaceutical Management has become increasingly popular among students recently. The training provides a variety of job options. This demonstrates the course’s enormous popularity among students.
• Pharmaceutical distributors, purchase managers, quality assurance managers, and other positions are accessible as MBA pharmaceutical management jobs. 

The MBA in pharmaceutical management salary and some prominent job positions with their job roles are included below.

Top recruiters

Many of the world’s largest pharmaceutical businesses seek MBA graduates for positions in strategy and management. Among the several companies are the following.

1. Alkem Laboratory

The organization is looking for applicants who can handle the responsibilities of a manager, such as creating and implementing plans, monitoring results, managing employees, and making decisions. They are also expected to be capable of managing a whole department or branch and ensuring its flawless operation. Alkem Lab’s average pay is INR 7.1 LPA.

2. Piramal Enterprises

Piramal Enterprises is an Indian company focused on pharmaceutical and healthcare services. The business is renowned for its cutting-edge drug development, production, and delivery approaches. They have been seeking experts with MBAs in pharmaceutical management. Piramal Enterprises’ average pharmaceutical salary is INR 8.3 LPA.

3. Cipla

Candidates with great communication skills adept at creating interactions with external parties (such as customers), dealing with stress and pressure, and making quick judgments are welcome at this organization. Cipla’s average MBA in pharmaceutical management salary is INR 6.7 LPA.

4. Glenmark

This organization seeks applicants with team and project management expertise and proven leadership characteristics. They also seek someone who can work independently and achieve deadlines without supervision. Glenmark’s average MBA pharma salary is INR 7.7 LPA.

5. Sun Pharma

Sun Pharma is an Indian pharmaceutical company specializing in developing generic pharmaceuticals. They have employed experts with MBAs in Pharmaceutical Management for jobs like Director, Manager for Operations, Quality Assurance, etc. Sun Pharma pays an average MBA pharma salary of INR 7.6 LPA.

Future of Pharmaceutical Management

According to industry experts, given the pharma sector’s increased growth potential, a 10% increase in jobs can be projected in the coming year. If people have the potential and necessary abilities, there are many career chances both in India and overseas. After receiving a bachelor’s degree, pursuing an MBA from top pharma MBA colleges in India will not only broaden your theoretical knowledge but also assist you in developing the skills required to elevate an organization. There is no doubt that this industry has room to expand in the years to come and there will be several pharma jobs too.

Conclusion

Pharmaceutical Management is a significant sector in the medicinal and pharmaceutical production and distribution industry because of its critical role in decision-making and financial plan placement. The MBA in Pharmaceutical Management program was created by Manipal Academy of Higher Education (MAHE) and offering on Online Manipal. It provides an unrivaled online experience with excellent education without the bother or expense of going to a physical campus.

Key takeaways:

• The MBA in Pharmaceutical Management job profile entails working in a pharmaceutical company’s research and development department, responsible for developing new treatments and ensuring they are safe and effective.
• MBA pharmaceutical management positions often require several years of industry experience, including at least one year as a medical researcher or manufacturing engineer.
• Pharmaceutical managers must be excellent communicators because they frequently interact with internal departments and external groups like regulatory bodies and private investors.