||MBA in Pharmaceutical Management
||Graduation with at least 50% and clearance of national level management test like CAT/MAT/CMAT/NMAT/DYPCET
|Key Skills Required
||Communication skills, creative, management skills, stress management, confidence
||Rs 2,50,000- Rs 11,00,000
|Average Starting Salary
||Rs 40,000-Rs 75,000
|Top recruiting companies
||Abbott Laboratories, Laurus Laboratories Ltd, Regeneron Pharmaceuticals, Bayer, Biocon, Pfizer, Novartis, Zydus Cadila, Allergan. Genzyme. USV Limited
Why MBA in Pharmaceutical Management?
Students who wish to the pharmaceutical industry on a managerial level; MBA in Pharmaceutical Management is one of the best options to start with. The course incorporates the core administration subjects, other than pharma-financial subjects, strategic administration, information administration, and analysis.
Furthermore, the program seeks for grooming the aspired managers with essential abilities in planning and working administration methods; diagnosing and tackling the administration issues; and acquiring consultancy aptitudes, with a view to developing them up to oversee pharmaceutical modern units.
MBA in Pharmaceutical Management is a 2-years postgraduate degree course. Thoug, the admission process for colleges varies, candidates need to be at least graduate from a recognized university and have a descent score in national/state management entrance tests (CAT/MAT/CMAT/NMAT/GMAT).
Top colleges offering MBA in Pharma Management–
MBA’s trained in pharmaceutical management can work with the various educational institutions, pharmaceutical companies, healthcare institutes, hospitals, agriculture and allied industries, chemical industries, research laboratories, scientific publishing, and media, or even information technology under both public and private sectors.
The management graduates in pharma-industry specialize in this field are offered the job roles where they generally work in the labs, hospitals, and offices dealing with production and marketing strategies. The work hours rely on the workplace. While numerous community drug stores and labs serve people in general amid the standard business hours and marginally later (9 a.m. to 9 p.m.), some are open even later.
Job Roles and Career Opportunities
Such graduates can seek job profiles that offer roles in Sales, Marketing, Market Research and Analysis, Product Research and Development Support, Product Executive, Corporate Communication, Project Management etc. There are countless global organizations working in this field such as Roche, Sanofi, Merck, Johnson & Johnson, Eli Lilly, Pfizer, GSK etc.
The following are few of the common job roles played by MBA’s in Pharma Management:
Market Research Analyst
He is responsible for fetching the information on clients, contenders and commercial center and organizing the data into noteworthy reports and presentations. He is in-charge of administering the business targets and outlining overviews to find potential client preferences.
Quality Assurance Manager
A quality assurance manager is responsible for performing an examination of production and quality control. He guarantees consent to in-house subtle elements, rules, and good production practices. The faculty in this field must be sufficiently talented in handling with the quality-based issues.
Pharma Benefit Analyst
He is responsible to decide the employee benefit practices by benchmarking best works on; considering industry and business patterns; following the regulations and assessing impact.
He also decides the employee advantage interests by directing representative surveys; framing center groups; examine the reactions.
Drug 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.
The drug inspectors work to guarantee that items are secure for human utilization. Their fundamental duty is to inspect sustenance or pharmaceuticals at different phases of the assembling procedure so as 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.
Here are a few other career prospects in pharmacy management:
- Sales Manager
- Marketing Manager
- Drug Cost Accounting
- Drugs Distribution Manager
- Business Development Manager
- Pharmaceuticals Distributors
- Pharmaceutical Purchase Manager
- Formulation Pharmaceutical Technology Scientist
- Market Research and Drug Developer
In India, the average pay scale offered to MBA graduates in Pharma industry varies from Rs.4,50,000 to Rs.7,00,000 per annum, depending on the skills of a person, the college from which the individual graduated and the recruiting organization.
The salary range that an experienced professional can expect is comparatively much higher. Professionals with 5-years or more of experience can somewhere expect a salary package of Rs.8.4 lakhs p.a. to Rs.14.5 lakhs per annum.
MBA in Pharmaceutical Management: Recruiters
Some of the significant employers from the worldwide pharmaceutical organizations are:
- Directorate of Industries and Commerce, Nagaland
- Ranbaxy Laboratories
- Dabur India Ltd.
- ACG Worldwide
- Abbott Laboratories
- Laurus Laboratories Ltd
- Regeneron Pharmaceuticals
- Zydus Cadila
- USV Limited
- Sun Pharma
- Vergo Pharma
MBA in Pharmaceutical Management offers various career options. The graduates specialized in this field can go for:
- Clinical Research and Business Development
- Quality Control Management
- Pharma Product Management
- Pharmaceutical Management in Hospital
- Pharmaceutical Policy, Laws & Regulatory Management
- Supply Chain Management
- Pharma Sales and Market Research & Management
- Pharmaceutical Industry Management
- Entrepreneurship Management
- Export Management and Q.A. Management
MBA in Pharmaceutical Management: Syllabus
An MBA in pharmaceutical administration sets you up for leadership roles and creates administrative abilities in various sectors. The program intends to enable the students to learn out about proper tactics for productive planning, execution, and assessment of various policies in pharma segment.
It also entitles them to learn about the implementation of subjective and quantitative logical aid. It basically combines the study of pharmaceutical sciences with business management strategies. Students are taught various topics of pharma management included under the following subjects:
- Principles of Management
- Organizational Behaviour
- Human Resource Management
- Financial Management – 1
- Research Methods
- Managerial Economics
- Essentials of Pharmaco-epidemiology
- National and International Environment for Pharmaceutical Industry
- Pharmaceutical Marketing
- Regulatory Environment for Pharma Business
- Introduction to Medical Pharmacology
- Business Communication
- Intellectual Property Right
- Social Media Marketing
- Strategic Management
- Management Information System
- Operations Research
- Project and Entrepreneurship Management
- Consumer Behavior
- Financial Management – 2
- Data Management and Analysis Market Research
- Total Quality Management
- Product and Brand Management
- Supply Chain Management
- Clinical Research and Development
- Sales and Distribution Management
- Pharmaceutical International Business Management
- Pharmaceutical Production Management
LIST OF ELECTIVES
- International Business
- Private Public Partnership
- Data Analytics
- Health Financing
- Public Health Nutrition
- Urban Health
- Advanced Excel
- Ethics in Hospitals
- Innovations Management
Popular colleges offering MBA in Pharmaceutical Management
There are many institutes in India that offer the 2-years MBA degree in Pharmaceutical Management. The information regarding the admission criteria, eligibility, fee structure and placements of few colleges is mentioned below:
|School of Business Management, NMIMS University, Mumbai
||Students must have at least 50% marks in graduation.
Students need to appear in the entrance examination, NMAT (NMIMS Management Aptitude Test) conducted by GMAC, followed by GD and PI.
||The average salary package offered to the graduates is Rs.6,50,000 p.a. whereas the highest package offered was Rs.10,00,000 p.a.
|Chitkara University, Punjab
||Students must have at least 50% aggregate marks in their graduation.
Students can apply either through the CAT/XAT/MAT/XMAT/NMAT scores or through the Chitkara University Test, followed by GD and PI.
||The average salary package offered to the graduates is Rs.3,50,000 p.a. to Rs.6,00,000 p.a.
|School of Management, Dr. D.Y. Patil University, Navi Mumbai
||Students must have at least 50% marks in graduation. For students applying through CAT/XAT/MAT/XMAT/NMAT, the minimum acceptable score is 500/800 or 60 and above percentile.
Students can apply either through the CAT/XAT/MAT/XMAT/NMAT/ MAHCET scores or through DYPCET (D Y Patil Common Entrance Test), followed by GD and PI.
||The average salary package offered to the graduates is Rs.4,50,000 whereas the highest package offered was Rs.6,50,000 p.a.
|Institute of Clinical Research India, Bengaluru
||Students must have at least 50% marks in their graduation.
Students need to appear in the Entrance Examination conducted by the college, followed by GD and PI.
||The average salary package offered to the graduates is Rs.3,00,000 p.a. whereas the highest package offered was Rs.6,00,000 p.a.
|Indian Institute of Health and Management Research, Jaipur
||Students must have at least 50% marks in aggregate in their graduation.
Students can apply through the CAT/XAT/MAT/GMAT/GPAT/CMAT/ATMA or IIHMR MAT scores, followed by GD and PI.
||The average salary package offered to the graduates is Rs.5,28,000 whereas the highest package offered was Rs.11,58,000 p.a.
MBA in Pharmaceutical Management: Requirements
The candidates who have a graduation degree with at least 50% marks in aggregate from an authorized university in Biotechnology/ Biology/ Botany/ Chemistry/ Microbiology/ Zoology/ Biochemistry/ Physics/ Agriculture/ Medical Sciences/ Pharmacy/ Applied Sciences/ Ayurveda/ Veterinary Sciences/ B.Sc./ MBBS/ BDS/ BAMS/ BHMS/ Management etc. are preferred to get enrolled in this course.
Why should you choose to do an MBA in Pharmaceutical Management?
The pharmaceutical sector is one of the biggest growing business sectors in India; its interest in productive labour is consistently on the ascent. The unavoidable trends of globalization and progression are quickly entering into the industry.
The Indian pharmaceutical industry is the 3rd biggest as far as volume and 13th biggest as far as esteem, according to a report by Equity Master. India is the biggest supplier of generic medications worldwide with the Indian generics representing 20 % of worldwide exports as far as volume.
The Indian pharmaceutical industry expanded at a CAGR of 17.46% amid 2005-16. The industry is required to develop more than 15 % per annum in the vicinity of 2015 and 2020, to outperform the worldwide pharma industry.
The market is relied upon to develop to US$ 55 billion by 2020 at a CAGR of 15.92 %, accordingly rising as the 6th biggest pharmaceutical market universally. The pharma sector is relied upon to produce 58,000 extra job openings by the year 2025. With enormous growing aspects, MBA in Pharmaceutical Management offers a promising career to the aspirants in the near future.