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Jagpreet
31 July, 2024
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Groundbreaking research and development of drugs is no new thing in the market. We all know how fast the pharmaceutical giants were able to prepare the vaccines for Covid-19 and similarly many other life-saving drugs which are floated in the market. This is only possible because of the strong pharmaceutical industry of the countries. The amount of research, hard work and precision required to develop a single drug or vaccine needs advanced knowledge and seamless management. From drug manufacturing to the final approval and distribution process, a pharmacy professional has diverse roles to play. As it is a dynamic field, it is vital for professionals to advance their knowledge as per the current industry standards. That is why, most of the aspiring candidates choose an MBA degree in this niche.
Since pharmacy is a theoretical and practical field, industry experience is equally important. If you are one of those individuals who value both theoretical and practical knowledge, then an online MBA in Pharmaceutical Management is your ideal option. Having the same credibility and curriculum, an online MBA in this specialisation can give you both flexibility and advancement in your career. In this blog, let’s discuss about the online MBA in Pharmaceutical Management in detail.
The online MBA in Pharmaceutical Management is a two-year postgraduate management programme which combines the concepts of business and niche-oriented pharmaceutical topics. The core topics covered in this programme include pharmaceutical marketing, regulatory affairs, healthcare economics, research, and strategic decision-making among others. The unique combination of pharmacy and management prepares you for bigger responsibilities and challenges.
| Course Level | Postgraduate degree |
| Course Duration | Minimum 2 year |
| Online MBA in Pharmaceutical Management Fees | INR 1,00,000 to 5,00,000 |
| Eligibility | A bachelor’s degree from a recognised university in a related stream. |
| Average Salary for Online MBA in Pharmaceutical Management | INR 10 to 14 LPA* (depends on previous experience and current skill set). |
*The salaries listed above may vary depending on location, organisation, and level of experience.
If you have an interest and passion for the pharma industry, an MBA degree in Pharmaceutical Management can benefit you in many ways. So let’s see why you should pursue this course:
Advance your industry-specific knowledge: This programme will provide you with a comprehensive understanding of the healthcare industry, its challenges, regulations and management practices. The acquired skills and knowledge can help you pitch for management job profiles.
Salary Hike: An MBA course hones your technical skills and develops your leadership qualities. That is why companies prefer MBA graduates for higher management roles which pay competitive salaries.
Better networking opportunities: By enrolling in this programme, you can establish connections with other professionals from the industry across the globe. This benefits knowledge sharing and gives a better perspective on the domain. In fact, it can help in seizing good job opportunities or internships.
Earn and Learn at the Same Time: In an online MBA course, you get the flexibility and convenience to continue your job while studying. This lets you fulfil other commitments and puts less burden on your pocket.
While the eligibility criteria for this programme may differ in each college, you must fulfil the general criteria to enrol in this course:
You must have completed a bachelor’s degree from a recognised university or equivalent qualification in a related stream.
A minimum of 50% marks are required in undergraduation. In the case of reserved category students, there is a relaxation of 5% in the minimum marks.
Although not mandatory, some universities may require one or two years of work experience.
The coursework you will be studying in this programme is different in every university, however, the following subjects are generally covered in this course:
| Semester 1 | Semester 2 |
| Managing People & Organisations | Financial Management |
| Financial Reporting & Statement Analysis | Marketing Management |
| Managerial Economics | Strategic Management |
| Business Communication | IT for Business |
| Business Statistics | Business Leadership |
| Research Methodology |
| Semester 3 | Semester 4 |
| Management Accounting | Entrepreneurship and Innovation |
| Legal Aspects of Business | Sustainability |
| Pharmaceutical Marketing | Capstone Project |
| Pharmaceutical Sales and Consumer Relationship Management | Pharma Logistics Management |
| Intellectual Property Rights | Pharmaceutical Production Management |
| Minor Project | Pharmaceutical Regulatory Environment |
In online mode, there are a few institutions in India offering an MBA in Pharmaceutical Management.
| Institution Name | Fee Structure | Rankings & Accreditation |
| Online Manipal | INR 2,80,000 (full course fee) | UGC-DEB, 101-150 QS Subject Ranking 2023 in Pharmacy |
| Chitkara University | INR 2,00,000 (full course fee) | NAAC A+, UGC-DEB, PCI, AUAP |
| Parul University | INR 1,50,000 (full course fee) | NAAC A++, UGC-DEB, QS-IGAUGE Diamond-rated university |
| University of Mysore | NAAC A+, UGC-DEB, AIU, AICTE |
According to an article in The Hindu, the pharmaceutical industry in India is projected to reach the $130 billion mark by 2030 as per the top industry executives at CPHI & PMEC India expo. This growth is a result of expanding market opportunities in the US and UK. Such growth is bound to witness a significant rise in job opportunities for skilled professionals having practical and management knowledge to fill the gap. Pursuing an online MBA in Pharmaceutical Management can benefit you in grabbing a lucrative opportunity in this growing industry.
Here are a few job roles which you can opt for after the MBA degree:
| Job Role | Average Salary |
| Pharmaceutical Product Manager | INR 14.5 LPA |
| Pharmaceutical Purchase Manager | INR 12.8 LPA |
| Drug Distribution Manager | INR 11.4 LPA |
| Regulatory Affairs Manager | INR 17 LPA |
| Clinical Research Manager | INR 10.2 LPA |
| Quality Assurance Manager | INR 18.6 LPA |
| Pharmaceutical Sales Manager | INR 3 LPA |
| Formulation and Development Manager | INR 13.8 LPA |
Source: Ambition Box
*Please note that the salary is subject to change as per the market regulations.
Some of the companies where you can seek employment are:
Alkem Lab
Cipla
Glenmark
Piramal Enterprises
Sun Pharma
Zydus Lifesciences Ltd.
Aurobindo Pharma Ltd.
Torrent Pharma
Lupin
Mankind Pharma
Pharmacy is an evergreen profession with new opportunities coming up for enthusiastic professionals. Getting an online MBA in Pharmaceutical Management from a reputed institution will groom you holistically for this lucrative field which is projected to continuously grow. With an MBA degree, you can give the necessary boost to your pharmacy career. So buckle up for the process and get on the online MBA flight.
If you are a pharmacy graduate or a working professional who aims to accelerate growth and assume a management or senior position in the industry, an online MBA in Pharmaceutical Management is worth it.
The salary package will vary depending on the company and your experience. Generally, an MBA graduate in the pharmaceutical management field can earn between INR 3,00,000 and INR 10,00,000 per year.
The applicant must have completed a bachelor’s degree in pharmacy or related field from a recognised university with a minimum of 50% marks.
The widely chosen streams for an MBA programme are marketing management, finance, entrepreneurship, digital marketing, healthcare management, and supply chain management among others.
