MBA in Pharmaceutical Management combines the study of pharmaceutical sciences, marketing, and management. MBA in Pharmaceutical Management is perfect for students interested in the business and management aspects of India’s pharmaceutical and healthcare industries.

Pharmaceutical Management is one of the most rapidly expanding and lucrative disciplines of Management Courses with a promising future. It teaches students how to design and implement management approaches, acquire consulting abilities, and solve management challenges.

MBA in Pharmaceutical Management will prepare students to manage pharmaceutical manufacturing estates and allied sectors by equipping them with the necessary skills in planning and operating management techniques, determining and solving management problems, and acquiring consultancy skills.

MBA is a widely recognized postgraduate degree in business administration. Among the areas of expertise covered by the Master of Business Administration curriculum are the following:

• Sales and Marketing,
• Finance,
• Human Resource Management
• Operations Management,
• Business Analytics
• Logistics Management,

Job Functions and Career Opportunities

These graduates can apply for positions in Sales, Marketing, Product Executive, and Project Management, among others. Numerous multinational corporations, such as Roche, Sanofi, Merck, Johnson & Johnson, Eli Lilly, Pfizer, and GSK, are active in this field.

MBAs in Pharma Management are frequently found in the following positions:

Market Research Expert

He is responsible for gathering data on clients, competitors, and the marketplace and organizing it into meaningful reports and presentations. He is responsible for managing business objectives and outlining overviews to identify potential client preferences.

Quality Assurance Manager

A manager of quality assurance is to examine production and quality control.

He ensures compliance with the organization’s subtle elements, standards, and production best practices. This field’s instructors must be adept at resolving quality-related difficulties.

Pharma Benefit Analyst

He is responsible for determining the employee benefits by comparing them to best practices, considering industry and company trends, adhering to legislation, and evaluating their impact.

In addition, he determines employee benefits interests by running representative surveys, designing focus groups, and analyzing employee responses.

Drug Store Supervisor

A drugstore supervisor is a drug specialist who manages the store’s day-to-day operations. He processes orders and maintains records. He is responsible for administering solutions by adhering to standard operating procedures for receiving, filling, dispensing, recording, and maintaining loss control measures.

Drug Inspector

The drug inspectors’ objective is to ensure all products’ safety. Their primary responsibility is to examine food and pharmaceuticals at various stages of the production process to ensure that quality standards are met.

The specialists also advance, assuming positions as consumer safety officers typically responsible for implementing the security approach and designing examination systems for pharmaceutical products.

Here are some further pharmacy management employment opportunities:

• Sales Manager
• Pharmaceutical Purchase Manager
• Drug Cost Accounting
• Business Development Manager
• Pharmaceuticals Distributors
• Formulation Pharmaceutical Technology Scientist
• Drugs Distribution Manager
• Market Research and Drug Developer
• Marketing Manager

Salary Offered in MBA Pharmaceutical Management

In India, the average salary provided to MBA graduates in the pharmaceutical business ranges from Rs.4,50,000 to Rs.7,00,000 a year, depending on the individual’s skills, the institution from where they graduated, and the recruiting organization.

Comparatively, the compensation range to which a seasoned expert might look forward is considerably higher. Between Rs.8.4 lakhs p.a. to Rs.14.5 lakhs p.a., professionals with at least five years of experience can anticipate a compensation package.

Why Should you Pursue an MBA in Pharmaceutical Management?

The pharmaceutical industry is one of India’s fastest-growing industries, and its demand for productive labor is continually rising. The inevitable globalization and development trends are rapidly influencing the sector.

A survey indicates that the Indian pharmaceutical business ranks third in volume and thirteenth in value. India is the world’s largest provider of generic pharmaceuticals, with Indian generics accounting for twenty percent of global exports by volume.

Between 2005 and 2016, the Indian pharmaceutical industry grew at a CAGR of 17.46%. To surpass the global pharmaceutical business, the industry must grow more than 15 percent between 2015 and 2020.

The industry is anticipated to reach US$ 55 billion by 2020, expanding at a CAGR of 15.92 percent and becoming the sixth-largest pharmaceutical market worldwide. By 2025, the pharmaceutical industry will be anticipated to generate 58,000 additional job positions.

MBA in Pharmaceutical Management provides hopefuls with a lucrative profession shortly due to its vastly expanding characteristics

Admissions Procedure for an MBA in Pharmaceutical Management

• A candidate’s entrance examination score determines admission to the course.
• The CAT, MAT, SNAP, and CMAT are some of the most important India-wide entrance tests for this aim.
• Additionally, some universities provide merit-based admittance. August and September are often the beginning of the admissions process.
• By the end of August, online application forms for nearly all entrance exams will be accessible.

Admission on merit:

• Apply to the institutions and universities where you’re interested in enrolling.
• Perform well in the undergraduate examinations, as the scores obtained on these exams serve as the foundation for the admissions procedure.
• Colleges publish their admissions cutoff lists in due time. Determine whether you are qualified for admission to the selected course.
• If qualified, visit the college and present all relevant paperwork.

Entrance-based admission:

• Apply to the institutions and universities in which you’re interested in enrolling.
• Register for the entrance examinations you’ll be required to pass to attend the college of your choice.
• A candidate must score over the minimum qualifying percentile established by the relevant college or university to be considered for admission to subsequent rounds.
• After the written examination, a special group discussion and personal interview are held to compile the final list of shortlisted candidates.
• Once all tests have been administered, colleges and universities announce the results and publish a merit list based on the written test, group discussion, and personal interviews of the individuals who have been ultimately shortlisted.
• After the admissions procedure, the final allocation of seats to candidates takes place, and the candidate must pay the course fee and register for the respective academic year.

Eligibility For MBA in Pharmaceutical Management

The eligibility requirements for those seeking an MBA in Pharmaceutical Management are straightforward and consist of the following: It is important to remember that the eligibility requirements vary for each institution.

• The candidate must hold a bachelor’s degree in any relevant field from an accredited college or university.
• To be applicable for this course, one must have earned a minimum of 50 percent on their undergraduate degree.
• The candidate must possess a valid score on the relevant entrance exam.
• Experience in the workforce is not required but is strongly desired.

MBA in Pharmaceutical Management in India and Abroad: Opportunities

• The pharmaceutical industry is one of the fastest-growing business sectors in India, and its competitive edge in productive work is consistently on the rise. Globalization and migration are accelerating their penetration into the business sector.
• According to a report, the Indian pharmaceutical sector is the third-largest by volume and the thirteenth-largest by value. India is the world’s largest supplier of non-exclusive pharmaceuticals, with Indian generics accounting for 20% of the total amount of commodities.
• Medical care, specifically clinic administration, is an exceptional sector since, in contrast to Pharma, which is mostly focused on production, it is centered around general management. The criteria applicable to construction are probably not directly applicable to a variety of medical care fields. In addition, your knowledge of the sector and clients (patients and their chaperones) demands will develop over time. The more one studies and the greater one’s experience, the better it is.
• After completing this course, you may find employment opportunities in marketing, information technology, human resource development, clinical schools, medical insurance, or the pharmaceutical industry.
• You may serve as a medical care chief, emergency clinic chairman, drug project supervisor, or medical care finance administrator. As a manager, you may be responsible for coordinating, directing, and supervising routine duties.
• In addition to dealing with routine financial activities, financial strategies, and research, responsibilities may involve managing finances.