MBA in Pharmacy

Are you someone who is interested in pursuing a career in Pharmacy but also wants to devise management & marketing strategies in order to improve the health sector? Then an MBA in Pharmacy is the perfect fit for your career goals! A Management degree in Pharmaceutical Sciences can offer you a lucrative career with endless opportunities around the world. The main components of the study include a variety of subjects related to management, communication, research, accounting, human resource, pharmaceutical science, sales, and Pharmaceutical business. Go through our blog to find more about MBA in Pharmacy!  

What is MBA in Pharmacy?

To understand better, the MBA in Pharmacy term can be broken down into two parts i.e “Pharmaceutical Management = Pharmaceutical Science + Business Strategies”.  Running for a period of 2 years, this course imparts extensive knowledge related to regulatory issues as well as business management and marketing strategies of the Pharmaceutical industry. Enlisted are some of the benefits of pursuing an MBA in Pharmaceutical Management course: 

• It helps in skill development, particularly, solving problems in management, planning and operating management techniques, and obtaining consultancy skills.
• With the knowledge and skills gained, it widens career opportunities. 
• Prepares you for managerial positions by offering the opportunity to gain hands-on experience through industry training. 

MBA in Pharmacy: Subjects

The course curriculum is designed to help students gain technical knowledge as well as managerial skills to achieve benefits in their respective careers. Though the modules can vary from one university to another, we have compiled a list of common subjects in MBA in Pharmacy course: 

• Managerial Economics
• Pharmaceutical Operations
• Risk Management
• Pharmaceutical Industries
• Corporate Finance
• Pharmaceutical Marketing
• Product Development

Note: This is a generalised list. The subject can vary from one university to another. 

Universities offering MBA in Pharmacy 

Now that you are familiar with the basic details pertaining to the course, let us have a look at some of the universities offering an MBA in Pharmacy or its variants. 

Univerity	Location
Rotman School of Management, University of Toronto	Canada
Middlesex University	London
Fairleigh Dickison University	USA
University of the Sciences	USA
Goethe Business School, Frankfurt Univerity	Germany

Note: This is not an exhaustive list as there are some universities which offer other variants like MBA in Healthcare Management.

Eligibility and Requirements

Be it MPharm or an MBA in Pharmacy, one needs to full the eligibility criteria set by the academic institutions. Enlisted are the common prerequisites you need to fulfill: 

• A graduate degree from a recognized university
• GMAT or GRE test scores (varies for different universities)
• Letters of Recommendation (LORs)
• Statement of Purpose (SOP)
• Minimum 2-3 years of working experience
• Language proficiency test scores like that of  IELTS or TOEFL
• All academic transcripts 
• Updated CV/Resume

Top Universities in India 

To pursue an MBA in Pharmaceutical Management in India, one needs to clear university-specific or National level exams like CAT, XAT, MAH-CET, etc. Apart from the academic institutions of the world, here are some of the universities offering an MBA in Pharmacy and its related variants in India. 

Institution
Indian Institute of Planning and Management (IIPM), Delhi
Narsee Monjee Institute of Management Studies (NMIMS), Mumbai
Jamia Hamdard University, Delhi
Indian Institute of Pharmaceutical Marketing
International Institute of Professional Studies (IIPS) – Devi Ahilya University (DAVV), Indore

Career Opportunities

The Pharmaceutical sector is expanding quickly while generating new job opportunities for people in the health sector and its associated fields. After completing an MBA in Pharmacy, a graduate can find employment opportunities in Community Pharmacy organizations, Hospitals, Pharmaceutical Manufacturing Companies, etc. Given below are some of the popular job profiles you can work in: 

Job Profile Avg. Salary
Quality Assurance Officer 2.9 Lakh
Market Analyst 6.5 Lakh
Project Manager 14 Lakh
Pharmaceutical Technician 2.7 Lakh
Drug Distribution Manager 8.4 Lakh
Consultant 10.3 Lakh
Drug Store Manager/Inspector 4.2 Lakh
Healthcare Manager 6.6 Lakh

FAQs

Hopefully, with this blog, you are now aware of all the necessary information related to an MBA in Pharmacy. Not sure how to go about with the admission process? Then get in touch with experts at Leverage Edu who will not help you in completing the admission related formalities, but will also provide assistance in writing an SOP that highlights all your achievements and motive of pursuing this course comprehensively!