A degree like an MBA is not restricted strictly to management at a basic level. With the advent of an interdisciplinary approach towards the curriculum of any field of study, courses like MBA have evolved and tried to incorporate various fields that require efficient management skills at an industrial level. An MBA in Pharmaceutical Management is a perfect example of a field of Science like Pharmacy which requires management skills, this course is the perfect amalgamation of Science and Management Studies required to run the industry efficiently. If you are interested in studying the intricacies of how management at an industry like pharmaceutics work then you should definitely consider a course like MBA in Pharmaceutical Management.[optin-monster-shortcode id=”xf2mlnjiouddzrshykdb”]
What is an MBA in Pharmaceuticals?
A course like MBA in Pharmaceutical Management works with the health and chemical industry and manages the production, supply and demand of drugs and teaches you how to manage an industry like that. This course will look at various research, analysis, sales, consultation and administration sector of a Pharmaceutical and teaches you to apply various managerial skills to this industry to make sure that runs smoothly. The course teaches you the basics of Pharmaceutical Sciences and also teaches you how to apply various business strategies to this in order to attain profit and run the industry smoothly. If you are interested in various aspects of a pharmaceutical business then this course will give you ample opportunities to build a career in the same.
Also Read: MBA in Healthcare Management
Highlights: MBA Pharmaceuticals Management
Highlights for the MBA Pharmaceutical Management program are given below:
|Duration||1- 2 Years|
|Examination Type||Semester System|
|Eligibility||Graduation from a recognized university with a minimum aggregate score of 50%-55%|
|Top Entrance Exams in India||CAT, CMAT, NMAT, SNAP, XAT, etc|
|Course Fee||INR 1 Lakh to 10 Lakhs per year (Abroad- INR15 Lakhs- INR 20 Lakhs)|
|Average Starting Salary||INR 3 to 10 Lakhs (Abroad- $50,000)|
|Top Recruiting Companies||Ranbaxy Laboratories, Dabur India Ltd., Central Warehousing Corp., Infosys, Cipla, Abbott India, Lupin, Sun Pharma, Dr Reddy’s lab, Piramal etc.|
|Top Job Profiles||Pharmaceuticals Distributors, Pharmaceutical Purchase Manager, Formulation Pharmaceutical Technology Scientist, Sales Managers, Consultant and project manager, Market researcher and analyst etc.|
There are certain subjects or core areas that are fundamental to the understanding of a subject, some of the key elements that constitute an MBA in Pharmaceutical Management are:
- Pharmaceutical Marketing Management: This course aims to look at the various business strategies involved in the management of pharmaceutical industry, this course will teach you how to analyze various strategies through which one can improve and manage the sales and purchasing of various pharmaceutical products. One important factor here is to attain knowledge of what the market in an industry like this entails.
- Organizational Behaviour: Organizational behaviour looks at the study of human behaviour in an organizational setting, this field of study analyzes the work efficiency of people and is an important part of a course like Management studies as it looks at how the working efficiency of people in an industry can be achieved.
- Basics of Anatomy, Physiology and Pharmacology: This course will cover the basic biological as well as scientific topics that are necessary to be covered in order to get a basic scientific overview of what this industry is about. With the Management skills, you also need to know how these drugs affect the human body and how the human body reacts to these drugs. This course is as important as any other Management course in this field because having first-hand knowledge of what the industry does is a scientific entity.
- Legal aspects of Pharmaceutical business: As the name itself suggests, this field of study looks at the rules and regulations as well as various laws that are related to the industry of pharmaceuticals, one needs to study this course in order to get a basic understanding of what the legal discourse of this industry entails, one needs to look at various copyright issues, patent issues etc.
Checkout: MBA in Hospitality Management
Why to Study MBA in Pharmaceutical Management?
MBA in Pharmaceutical Management is one of the most sought-after programmes for both career and personal development. There are so many advantages to taking the course. Following are some advantages and attractions of enrolling in this course:
- The course encourages knowledge expansion and provides a variety of chances for career progress.
- Students who want to work in management in the pharmaceutical sector must take the course.
- Both the theoretical and practical aspects of the subject are emphasised in the course. Its curriculum includes a variety of tasks, presentations, tests, and internships that give students practical experience in the workplace.
- The pay range for an MBA in Pharmaceutical Management is INR 3,00,000 to 10,00,000. In some reputable institutions, the typical CTC offered by employers might be as high as INR 15,00,000 to 20,00,000.
- The course presents students with a variety of employment options. Students have the option of working for prestigious pharmaceutical businesses. Even better, they can launch their own companies.
- In addition to this, students also have the choice to pursue much higher education.
Admission Process: MBA Pharmaceutical Management
In India, based on a candidate’s performance on an entrance exam, they are admitted to the course
- The CAT, MAT, SNAP, CMAT, and other significant all-India admission tests are some of the ones used for this purpose.
- Additionally, some universities provide merit-based admittance. Typically, the application process starts in August or September.
- By the end of August, practically all entrance exams have online registration.
- Visit the official website of the institution.
- Click on ‘Apply Now’ or ‘Register Here’
- Complete filling your education history with all the qualifications.
- Fill in the details of your employment history.
- Fill in your personal statement.
- Submit the application form by paying the mentioned fees.
- All official academic transcripts and grade cards
- Passport size photographs
- Passport photocopy
- Updated CV/Resume
- English Language Proficiency Test Scores
- Letters of Recommendation
- Statement of Purpose
Read: Msc in Pharmacy
Top Entrance Exams in India
|Exam Name||Registration Date||Exam Date|
|CAT||August 3, 2022 – September 23, 2022,||November 27, 2022|
|XLRI XAT||August 2022||January 1, 2023|
|NMAT||August 2022 – November 2022||October 2022 – December 2022|
|CMAT||February 16, 2022 – March 17, 2022,||April 9, 2022 (3:00 PM to 6:00 PM)|
|MAT||To be NOTIFIED||To be NOTIFIED|
Top Colleges in India for MBA in Pharmaceutical Management
There are numerous prestigious institutions and universities across the nation that offer the MBA in Pharmaceutical Management degree. Below are a few of the top universities that offer this course, along with more information.
|College Name||Average Annual Fees|
|SPJIMR Mumbai||INR 8,75,000|
|SIBM Pune||INR 7,68,000|
|NMIMS Mumbai||INR 9,25,000|
|Alliance University, Bangalore||INR 6,25,000|
|Amity University, Noida||INR 3,40,000|
|LPU Jalandhar||INR 3,04,000|
|Chandigarh University, Chandigarh||INR 1,80,000|
|NIMS University, Jaipur||INR 60,000|
|HITS, Chennai||INR 2,53,000|
MBA in Pharmaceutical Management- Top Colleges
Here are the top colleges with a well updated and well-reputed curriculum in the field of pharmaceutical management.
MBA in Pharmaceutical Management- Job Prospects
There are a number of career opportunities that will be available after finishing an MBA in Pharmaceutical Management, here are a few of them:
- Market Researcher and Drug Developer
- Pharmaceutical Purchase Manager
- Sales Manager
- Market and Research Analyst
- Quality Assurance Manager
Being a flexible degree, the MBA in Pharmaceutical Management has a wide range of employment options both inside and outside of India. International firms hire graduates of this MBA concentration for positions as product specialists, development executives, and other positions.
Since you already have a foundational understanding of pharmacy from your undergraduate studies, such as knowledge of drug marketing, manufacturing, production management, pharmaceuticals management, and pharmaceutical marketing, an MBA in pharmacy is a better alternative to pursue than a regular MBA.
For individuals who are interested in understanding the management and business aspects of India’s pharmaceutical and healthcare industries, an MBA in Pharmaceutical Management is the best option. One of the Management Courses with the fastest growth and highest payoff is Pharmaceutical Management, which has a promising future.
Choosing the right course to pursue your desired degree is an important decision to make but this decision can seem extremely difficult if you do not possess the required information. To make this process of choosing the ideal country and course simpler, you can meet the counselors at Leverage Edu who will help you in making an informed decision.