What next after you have completed BPharm?

To the graduating students of pharmacy, one of the most haunting questions is 'What Next??’. Over the years, I found the B Pharm students have been confronted with this issue. Let's attempt to understand and address it.

During the graduating years, most of the time aspirants look at the pharmaceutical industry from a limited angle of manufacturing, quality check (QC), quality analysis (QA), research and development (R&D), regulatory, clinical research and pharmacovigilance. Therefore, almost all the pharmacy graduates look at M Pharm and, going further some have a distant goal of doing PhD as the next logical step, with the hope that it will enhance employability and career prospects. There is nothing wrong in pursuing higher studies in that domain; provided, one is suitable; strong in science and numerical skills, has a logical, open and independent mind, analytical & critical thinking with an eye for accuracy. That's when some qualify and others don't. What next, then?

I want you to look at the other side of the 'Unexplored and Less-understood' Pharma world, the business domain about which there is low awareness, understanding and clarity among the students.

Pharmaceutical Management after B Pharm and M Pharm

You must realise that the technical knowledge that one acquires through graduation or post-graduation, has to be finally put to use for the business of pharmaceuticals. And for the industry, it is this business aspect that matters the most! The industry expects and requires 'Proficiency in Business' and not ‘Proficiency in Science' of pharmaceuticals.

Business Knowledge and Skills

This is where MBA or PGDM in Pharmaceutical Management comes in to picture. It prepares students for business and focuses on the critical areas of

• Domain knowledge of pharmaceutical business
• Business skills - how to do business?
• Business sense - direction for business!
• Skills like communication, teamwork & inter-personal skills, analysis and decision making, problem-solving and,
• Personality development - Leadership
• Ethics and Values
• Creativity & Innovation

The syllabus is robust, all-round, and all-inclusive with Marketing, Finance, HR, Economics and IT. So, you learn the entire ecosystem of the business world, going beyond the world of pharmaceutical science. The two years of rigorous programmes give experience, exposure and expertise as students undertake projects, assignments, internships, rural immersion programmes and social engagement through CSR activities.

You can, therefore, imagine how one undergoes transformation from just a pharmacy graduate to well-groomed pharma professional and how a PGDM in the Pharmaceutical Management programme adds value. In fact, the value addition you bring to the respective organisation is what the industry expects, respects and accepts.

Jobs Opportunities in Marketing

Marketing provides the largest opportunities to Pharma MBAs in the business domain. All top and mid-size companies draw talent from campuses of B-Schools. They offer attractive salary packages between Rs 4.5 - 7.5 lakh. Irrespective of packages, the fresh MBAs are placed in the field for a period of about two years to understand the business dynamics, gain insights and then, looking at their aptitude, skills, suitability and compatibility, they are eventually put in a variety of jobs like 

• Management Trainee
• Sales and Marketing
• Brand Management
• Project Management
• Market Research
• Sales Force Excellence
• Marketing Excellence
• Pharma Advertising
• Medico-marketing
• Digital Marketing
• Business Development
• International Business

Interestingly, there are other equally potential emerging opportunities to expand your careers growth in

• Diagnostics
• Medical Devices
• Health Insurance and Managed Care
• e-Pharmacy
• Medical Tourism

While the above segments fall under the Healthcare sector, the MBA in Pharmaceutical programme enables you to understand related business issues and meet the sector's requirements well.

Career and growth

Each one of the above-mentioned openings offers opportunities to perform, excel and rise to take higher responsibilities, direct people in small to large teams, grow further to head businesses and eventually lead organisations. There is no limit to one's potential in the pharmaceutical industry.

If you look around in the pharma industry, many middle-level managerial positions are held by young MBAs today while almost all top management leaders in pharma businesses are qualified BPharm + MBA profiles, thanks to their outstanding efforts, enhanced professional competencies, result-orientation and leadership qualities.

Enrollment for PGDM - Pharmaceutical Management

Most B Pharm graduates are unaware of the admission procedure and hence, miss out on the opportunity. It is mandatory to have appeared for any one of the seven national entrance tests such as CAT, MAT, XAT, GMAT, CMAT, CET and ATMA. If not appeared so far, the aspirants should enroll for the forthcoming ATMA or MAT in the month of May.

Graduates with a minimum aggregate of 50 per cent marks in B Pharm, BSc (Biology, Chemistry, Bio-chemistry and Bio-Technology), BE (Bio-Medical and Biotechnology), MBBS, BDs, MHMS and BAMS are eligible to apply. The admission process includes Written Test, Group Discussion and Personal Interview. The fee structure varies from institute to institute.

There are a very few institutes which offer such specialised programmes as sector-specific programme requires sound knowledge of the business sector coupled with expert, experienced faculty and strong industry network. IES Management College and Research Centre, Mumbai is a pioneering B-School in Pharmaceutical Management since two decades. The alumni of IES MCRC are well placed across the industry and globe, assuming key positions and leading their respective organisations. The Advisory Board of Pharma Management, with some of the most eminent personalities of the industry, plays a vital role in areas such as student mentoring, policy guidance, syllabus designing, event participation, placements and industry relations.

The two-year full-time PGDM - Pharma Marketing program at IES MCRC molds students to meet the industry's requirements and develop socially responsible leaders.

About the author

Professor Ulhas Karkhanis is an Associate Dean at IES Management College & Research. He has over 45 years of rich academia and industry experience.

Note: The views expressed in this article are solely author’s own and do not reflect/represent those of Shiksha