What is Pharmacy is All About?
The pharmaceutical industry focuses on the development and manufacturing of new medicines or drugs for medicinal purposes. Additionally, the testing, designing and evolution of latest technologies and techniques are part of the industry as well. Due to the demand for high life expectancy and advancing technology, the pharmaceutical industry has grown exponentially over the last decade.
If youre planning to build your career in this industry, you should pursue a PGDM in Pharmaceutical Management to ensure you have sufficient knowledge and skills to advance your job profile.
In this article, we have provided an in-depth analysis of everything you need to know before pursuing PGDM in pharmaceutical Management.
What is PGDM in Pharmaceutical Management?
By pursuing PGDM in Pharmaceutical Management, you will get the opportunity to extend your knowledge of chemical science and the effective use of pharmaceutical drugs. Moreover, this course also enables you to advance your business management skills, along with your understanding of the fundamentals of pharmaceuticals.
The main focus of this course is to prepare students for managerial positions in the pharmaceutical industry, hence, it involves courses that hone skills related to planning, consultancy, problem-solving, and management techniques.
Moreover, during this course, students are trained in pharmaceutical management, technology management, and advanced business concepts of this industry.
PGDM in Pharmaceutical Management: Course Highlights
A PGDM in Pharmaceutical Management enables students to acquire practical skills and knowledge, including making use of laboratory instruments while carrying out analysis. There are certain specifications related to this industry, which we have listed below:
A two-year full-time AICTE approved course, PGDM in Pharmaceutical Management is divided into six semesters. The subjects taught in each semester are balanced between providing knowledge that is specific to the pharmaceutical industry and skills that are needed for management.
For example, the subjects include topics from Pharma Business Environment, Pharmacology, and Pharma Product Brand Management, to Entrepreneurship, Business Communication, and Marketing Management.
Students with a Bachelors degree in pharmaceutical from any recognized university can consider pursuing a PGDM in Pharmaceutical Management. Their passing score must be a minimum of 50%.
Even students who are currently appearing for their bachelors degree can apply for this masters program.
Average Course Fee
The average course fee can vary anywhere between 20k to 15 Lakhs. This number depends on the college you are planning to apply to.
Students can directly apply online or download the form from the colleges website. When it comes to IMCOST, you need to download the form, fill it and send it back to us along with an application fee of INR 1000/-.
Candidates who opt to apply to the institute directly will have to provide their 10th, 12th, and Graduation mark sheets, along with their entrance exam scorecard, and photo ID. These documents can be sent either by email, post or in person.
After we have vetted the documents, the candidate will have to appear for a personal interview. Once selected, the student will be provided with a stipulated date for admissions and they will have to pay the tuition fee and original copies of relevant documents.
With new innovations in the pharmaceutical industry in areas like medical products, delivery system of drugs and drug therapy, individuals with high knowledge and skills are in high demand.
Multiple companies in the pharmaceutical sector are looking for professionals who can provide aid in evaluating, developing, and manufacturing ointments, capsules, and nutritional, medicinal, and commercial use.
Hence, there are a number of opportunities available for students who completed PGDM in pharmaceutical Management, both in the public and private sector. Primarily, industries that hire students from this industry are government hospitals, private hospitals, and private medical shops.
Other career opportunities that are prominent in this field include, but are not limited to government agencies, research facilities, biotechnological firms, pharmaceutical companies, laboratories, and pharmacies.
Some of the top recruiters associated include:
- Sun Pharma
Average Salary Range
Due to high demand, their salary and benefits are high. According to PayScale, the average salary of employees in the pharmaceutical industry is ₹530,000. The pay varies based on the role and department, in addition to the experience, the candidate has, their skillset, education, location, and other aspects.
Scope of Pharmacy Courses in India
The PGDM in Pharmaceutical Management course provides a range of scientific disciplines, which are highly crucial to the modern pharmaceutical sciences world. Moreover, this course combines advanced concepts and processes related to healthcare.
The course focuses on providing an in-depth understanding of the powerful and safe utilization of pharmaceutical medications. Additionally, the program blends management with healthcare innovations, as it includes lessons on Enterprise Management, Leadership, Advanced Business Concepts, Technology Management, and ADvanced Pharmaceutical Management.
Career Opportunities After Pharmacy Courses in India
Due to the vast scope, there are multiple career opportunities that one can pursue in the pharmaceutical industry. Some of the most common career options you can pursue after completing PGDM in pharmaceutical Management are:
- Sales Managers
- Drug Distribution Manager
- Market Researcher & Drug Developer
- pharmaceutical Distributors
- Pharmaceutical Purchase Manager
- Business Development Manager
- Formulation Pharmaceutical Technology Scientist
- Quality Assurance Manager
Related Blog: How to Become a Pharmacist in India?
Why You Should Consider PGDM in Pharmacy?
Now that you understand the course specifications, lets delve into the benefits of pursuing a PGDM in pharmaceutical Management:
1. A Plethora of Job Options
As this industry is extremely large, every sector requires various forms of expertise, skills and specific knowledge. Hence, youll have various job options and paths to choose from by pursuing a career in this field.
2. Get a Daily Dose of Challenges & Rewards
The pharmaceutical industry is highly focused on designing and developing new products that can improve the lives of people, at a low cost. Hence, regardless of the role you choose, you will directly contribute to saving multiple lives, which is extremely rewarding.
Moreover, as the industry is forever evolving, there are multiple challenges, ranging from finding solutions for lethal diseases to keeping up with the latest trends and technologies.
3. Great Pay and Benefits
It goes without saying that the pay you receive highly depends on the department you choose, your role, experience, skillset, education, location, and other aspects, however, the average pay across the industry is good. Moreover, as you climb the ladder, you are bound to get higher pay and benefits.
4. Groundbreaking Research
With an aim to constantly evolve and improve healthcare, the pharmaceutical industry is perpetually working on breakthroughs in the science, medicine, and therapy fields.
By being part of this industry, you will also be part of the insightful research for new and innovative medicines and solutions that will ensure people around the world are happy and healthy.
5. Keep Evolving
Almost every job role and career path in this industry requires innovation and creativity from every professional. Moreover, the industry is constantly evolving and changing, and to keep up with these changes, you will develop and evolve your skills too.
Related Article: 5 Reasons To Choose A PGDM in Pharmaceutical Management
Apply to IMCOSTs for PGDM in Pharmaceutical Management
The PGDM in Pharmaceutical Management course at ASMs IMCOST blends theories along with practices to perform strategic analysis. With the subjects covered in our course, students are able to develop advanced leadership skills, along with enhancement in written and verbal business presentations. Contact ud today!