Careers Opportunities in Pharma

The scope in India's pharmaceutical industry today is widest than ever before. By 2020, India is likely to be among the top 6th largest pharmaceutical markets globally. By Prof. Ulhas Karkhanis

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The Pharma Industry is described as a 'sunrise sector’, indicating a constantly growing and never decreasing kind of industry. There are opportunities… and opportunities!!

The country's pharmaceutical industry is expected to expand at a CAGR of 12.89 per cent over 2015–20 to reach USD55 billion. By 2020, India is likely to be among the 6 largest pharmaceutical market globally. Increase in the size of middle class households, improvement in medical infrastructure, general awareness about health and wellness, increase in the penetration of health insurance are all influencing high growth of pharmaceutical sector. Clearly, our socio-economic & political structure is very conducive to the growth of pharma business in India.

 Our challenges are accessibility, affordability and acceptability of medicines, which are receiving a boost by favorable policies of Government of India, like GST, National Health Policy 2017, Pharmaceutical Policy 2017, Jan Aushadhi, Ayushman Bharat, pricing of drugs, devices (NLEM, DPCO, NPPA), incentives to R & D, manufacturing and FDI in pharma sector.  

Indian Pharma Market vs. Global Market

Firstly, Indian Pharma Market is huge, with unmatched potential for generics and branded generic drug. Thanks to determined efforts and policies by the government, I think, we are moving very decisively in overcoming these. As we compete with other countries, strengths like excellent manufacturing capabilities, low production costs, cheap & skilled technical work-force, and talent-pool of research scientists give us a significant competitive edge. No wonder, India is the world’s largest provider of generic medicines; the country’s generic drugs account for20 per cent of global generic drug exports!

However, India needs to invest more in R&D, follow regulatory laws stringently, stay committed to quality, improve compliances in clinical research and take the advantage of our superior IT capabilities. Then, there is nothing that can prevent India from dominating the global pharma market.

Scope of Pharma market

The scope today is widest than ever before. The pharmacy & science graduates should not keep their vision confined to pharma segment alone; but look at the healthcare scenario in totality, comprising pharmaceuticals, hospitals, diagnostics, devices/equipment and medical insurance, e-pharmacy, medical tourism, where the knowledge of pharmacy, diseases, disease management and treatment is of prime focus and can best be filled by pharmacy & science graduates.

Advice for young pharmacists

The field of sales and marketing offers innumerable career opportunities. Let’s understand that a sales job is the foundation of career in marketing, which most pharmacists are reluctant to take up, primarily due to some notions which are misplaced. They need proper guidance.

The sales exposure in the initial phase gives you much needed understanding of customers, markets, competition and trade. It is a perfect exposure to hone one’s skills in communication, negotiations, convincing power and result-orientation. Unless you get these insights, it is not possible to conceive, design and execute a strategy, which is what marketing is all about!

How strenuous is the work out there in the field?

Well, initial period in any field is the time to slog. More than strenuous, the work in field is more exciting, challenging, rewarding and adds tremendously to experiential learning, almost on day-to-day basis. Your personality, analytical thinking, decision making, achievement orientation, problem-solving capabilities get a real life boost! So, don’t miss it, ever!! 

How good an option is it to pursue MBA after doing BPharm?

In an intensely competitive work environment, B.Pharm degree gives entry or provides eligibility for jobs. But for making a good career, you need to understand the business and much more. You need domain knowledge, management skills, expertise and approach to understand, analyze and solve problems, take quick decisions, and build teams.

An MBA course helps you develop the personality, leadership, skills, business knowledge and a lifelong network. Not only that, it takes your career on fast track, right to the top. It is very common in Pharma & Healthcare sector for pharmacy graduates with MBA to reach the top levels, including to the CEO positions. Only, sky is the limit!!!

Students usually tend to treat the subject of Pharmaceutical Management as a walk in the park, would you advise them to not do so?

This will not happen if we understand the purpose of learning Pharmaceutical Management. It's simple. Science is an important part of pharmaceutical business, but management process connects science to business. The purpose of industry is business and not science alone. Thus, Pharmaceutical Management is the essence of what you will remain engaged with, after entering the industry for rest of your life! Be it R&D, QC, QA, manufacturing, sales, marketing, and distribution. That's the importance of this subject.

What must a student do in order to shift his/her focus from core R&D to sales and marketing? Because throughout the 4 years we mostly learn about the R&D aspects only.  Switching from R&D to sales and marketing would be a full 180 degree turn.

Everyone should not and need not shift the focus. The students must first identify what their area of interest and inclination is. Whether it is technical or non-technical? Because the key to success lies in doing what you enjoy doing. You need to understand yourself and must introspect as well as seek guidance from experts, seniors or experienced people. Build your vision, aspirations and long-term dreams based on reality.

If you aspire to make it big in technical areas, career options include positions in the technical side and relate to manufacturing, quality control, quality assurance, R & D, clinical research, pharmacovigilence, regulatory affairs. However, post-graduation coupled with doctoral studies, is a necessity to realize your dreams. While in sales and marketing, an MBA course following gradiation will do a lot of good. The choice is yours, of course.

All the best!!! 

About the Author: Prof. Ulhas Karkhanis, is Associate Dean, IES Management College & Research Centre, Bandra (West), Mumbai. He spent nearly 4 decades working in the pharma industry for reputed MNCs & large-sized Indian companies in senior management positions. He is also Marketing Consultant for pharma companies.