MBA in Pharma Management

The healthcare field continues to progress, with people expecting better and higher quality facilities. Changing lifestyles often leave little time to focus on health, making medicines a constant part of daily life. Today, India's pharmaceutical industry has crossed the 15000 million figure. Over the past several years, the entry of private organizations and multinationals has substantially changed the industry's appearance and function. This growing scope constantly increases employment opportunities in the area.

Demand for Pharma Managers

Pharma Managers are currently in high demand to ensure quality within the sector. If you're looking for a management career with no shortage of opportunities, Pharma Management is a strong option.

Eligibility

A graduate degree holder (in Pharmacy, Science, Biotechnology, Management, or Medicine) of minimum 3-year duration can apply. You need at least 50% marks in graduation. Scores from CAT, MAT, CMAT, ATMA, XAT, or GPAT are important. Candidates who held their bachelor's degree in 2017 can also apply. Students with two years of relevant work experience are eligible as well.

Field of Pharma Management

A Pharma Manager can work in pharma sales, medical device marketing, marketing communication, quality control management, drug store management, and production planning. They act as the crucial link between healthcare professionals and the company. Pharma companies hire them to communicate product utility to customers and doctors. After appointment, companies provide product knowledge and field training, including anatomy, physiology, pharmacology, and salesmanship. Pharma Managers contribute to both product production and sales. Rapid industry growth offers considerable career potential.

After an MBA in Pharma Management, students may be appointed as Area Manager, Circle Manager, Product Manager, Quality Control Manager, or Management Trainee. Initial appointments often include roles like Marketing Executive, Medical Representative, or Business Executive.

Salary and Packages

Master's degree holders can expect an initial package of Rs 5 to 6 lakh. Expert professionals in international pharmaceutical companies can earn 20-25 lakh rupees annually. However, these higher packages and responsibilities are available to only 15-20% of candidates, as they require deep knowledge of the Global Pharma Industry.

Important Colleges

Major institutions for studying Pharma Management include:

• Indian Institute of Pharma Marketing, Lucknow
• Institute of Pharmaceutical Education and Research, Wardha
• IIHMR University, Jaipur
• NIPER, Mohali