What is MBA
A Master in Business Application is one of the widely chosen postgraduate domains. It is supposed to be a professional course and offers jobs much more easily as compared to other postgraduate programs. There are various domains and specializations that are available under an MBA program such as marketing, finance, human resource, and many more. These days colleges have started coming up with new specializations in order to make the students competent enough to fit the market requirements. The new age specializations are based on market research and industry requirements.
Also Read: MBA Courses: Choose According To Your Career
Why Choose MBA in Pharmaceutical Management
The candidates who wish to take up a job in the pharma industry on a managerial level take up MBA in Pharmaceutical management. This is the first step toward taking up a career in pharma. Apart from the core pharma subjects, the management program will include strategic administration, information administration, and analysis. The program also makes sure that the students are groomed with the required abilities in planning and work administration processes. The admission process is very much like any other MBA program. The student must have a graduate degree with 50% marks and then must have appeared for the common entrance exams.
MBA in Pharmaceuticals in Chitkara
Chitkara University is amongst the universities offering an MBA in pharmaceutical management. Here the students are taught an overview of the pharma industry and also information about drug discovery, regulatory requirements, approval processes, the methods used by industries to comply with these regulations, and the role & responsibilities of key operational units in drug manufacturing. It is a well-known fact that the pharma industry is one of the fastest-growing industries in today’s times. Chitkara University prepares the students to take up challenges in the rapidly evolving industry. Their MBA program in Pharmaceutical Management aims at the development of graduates into skilled managers in the domain of Sales & Marketing, Business Development profiles & Market Research.
Also Read: Why MBA Is The Best Career Option In 2022?
Top Colleges Offering MBA in Pharmaceutical Management
Top five colleges offering MBA in pharmaceutical management are listed below. These colleges make sure that the program is at par with the international standards and the facilities have vast industry as well as academic experience.
- Jamia Hamdard, New Delhi
- IIMR Pharma Business School
- Chitkara University
- Delhi Pharmaceutical Science and Research University
- DY Patil University, Mumbai
Some other Colleges that are Offering a Good Pharma Program are as Follows:
- Indian Institute of Pharmaceutical Marketing, Lucknow
- Indian Institute of Health Management Research (IIHMR), Jaipur
- Jamia Hamdard University, New Delhi
- NMIMS, Mumbai
- Indian Institute of Commerce and Trade, Lucknow
- Mahatma Jyoti Rao Phoole University, Jaipur
- NIPER, Punjab
All the students aspiring to get into the world of pharma must get into a lot of research before choosing a college for themselves. The common entrance exams must be appeared for.
Also Read: Future Scope Of Pharmacy In India In 2022
Job Roles and Scope of MBA in Pharmaceutical Management
The students of MBA Pharmaceutical management can seek a job in sales, marketing, product research and development support, market research and analysis, product executive, corporate communication, project management, etc. The national and international opportunities are countless. Especially post covid the pharma industry has seen an unmatched boom. Life-saving drugs are being manufactured worldwide and, in the process, the pharma industry is making a lot of money and offering a lot of employability.
Some of the Job Profiles that Pharma Students Can Bag are as Follows:
- Sales Managers
- Market Researcher & Drug Developer
- Drug Distribution Manager
- Pharmaceutical Purchase Manager
- Pharmaceuticals Distributors
- Formulation Pharmaceutical Technology Scientist
- Business Development Manager
- Quality Assurance Manager
The salaries being offered are decent and the jobs are very easily available. On average an MBA in pharmaceutical management earns somewhere between ₹8 LPA to ₹10LPA. There are numerous companies on a continuous lookout for fresh talent with out-of-the-box thinking. The salary bracket may be different for an experience and a fresher.
Moreover, there is a lot of scope for entrepreneurship in the pharma industry. After some years of job, most pharma graduates start their own businesses.
Also Read: How To Choose The Best Business Schools In India?
Benefits of Pharmaceutical Management Courses
The benefits of the course are immense. Any management professional becomes capable of taking up a managerial job and so does an MBA in Pharmaceutical Management student. According to a report by Equity Master the Indian pharma industry is the 3rd largest as far as volume and 13th largest as far as esteem is considered. India is the largest supplier of generic medications across the globe with the Indian generics representing 20 % of worldwide exports as far as volume.
- This course makes you ready for managerial positions in the pharma industry.
- It enables you to plan & operate management techniques, acquire consultancy skills, and solve management issues with confidence and competence.
- It builds skilled and effective professionals for the Pharma sector.
