What is PGDM in Pharmaceutical Management?
You have a keen interest in the science behind pharmacy and you intend to make it your profession. A Post Graduate Diploma Degree in Pharmaceutical Management is a tried and tested method to move forward in this direction. This will teach you the various aspects of the industry, the processes involved and the scope for experimentation and innovation. This branch of study and qualification also opens up career avenues in this fast-growing sector.
In this course, you will learn about the core administration subjects, pharma-financial subjects, information about the sector and the analysis of the industry. This program is a good opportunity to train aspirants in the administrative aspects, diagnosis of administrative and consultancy issues.
In this blog, we will explore the scope of PGDM in Pharma Management in India, the career opportunities, the top recruiters and the growth prospects of the industry.
Scope in India
The pharmaceutical industry has been growing rapidly in the country. India is expected to lead in the global index. This has been spurred by the government’s decision to invest in the public sector. Pharma companies investing in public-private partnerships are creating lots of job opportunities.
The requirement for candidates with a PGDM in Pharma has been consistently high since the industry needs skilled professionals to work in government departments, research institutions, hospitals and other service providers. There is a demand for senior-level positions in the industry and a good number of skilled workers are required to manage the transactions.
Some of the positions on offer for PGDM Pharma candidates are:
Sales Manager: A sales manager is responsible for leading a sales team. They have the responsibility to hire and train team members, evaluate and adjust performances accordingly to achieve the targets.
Market Research Analyst: This role requires you to fetch information about clients and business establishments. They convert the data into reports so that it can be utilised to finalise overviews for client preferences.
Quality Control Checker: A quality checker inspects goods to ensure that they meet the desired quality as specified by the manufacturers. This person tallies with the specifications to ensure that the goods meet the necessary standards.
Quality Assurance Manager: The Quality Assurance Manager helps organizations to put together quality standards and regulations. They need to gather data and plan accordingly so that the product quality can be improved as far as possible.
Drug Store Supervisor: This person oversees the work of pharmacists and pharmacy technicians. They hire pharmacists and monitor the drug supplies and if all safety standards are being met at the store.
Drug Inspector: A drug inspector is an expert who can monitor and execute efficiency with respect to the final product.
Logistics and Supply Chain manager: This profile requires keeping a track of inventory and monitor performances. These managers coordinate with vendors to ensure all operations meet quality and safety standards.
Operations Manager: This profile requires you to design, control the process of production and redesign business operations. Operations managers are employed in different types of businesses, government agencies, non-profit groups and organizations.
Market Researcher & Drug Developer: The pharma sector needs you to constantly stay updated with the latest technologies and come up with inventions, improvements or rectification in drug compositions or lines of treatment. This is the job of a market researcher or a drug developer.
Pharmaceutical Distributors: They are the people who control the supply of medicines to pharmacies, hospitals and medical institutions. These distributors are the people who are aware of any kind of supply lapse in the market and they take care that their customers are the least affected.
Top Recruiting Industries: These candidates have a role to play in a number of sectors that require lab-based research, clinical trials, manufacturing, engineering, quality assurance checks, quality control and validation.
Some of the prominent companies who hire candidates with a PGDM Pharma degree are:
- Sun Pharma
- Dabur India
The average pay scale for these candidates varies between Rs 4,50,000 and Rs 7,00,000 per annum. With some experience, the professionals get around Rs 8.4 lakh to Rs 14.5 lakh per annum.
With healthcare being a hot topic due to the pandemic the pharma industry is also seeing a lot of development. In such scenarios, a degree to manage a foothold in the pharma industry seems to be an intelligent choice on many counts. While there is no dearth of institutions offering a PGDM degree in pharma, it is critical to find an institution that can do full justice to the course. This is why ASM IMCOST emerges to be the best option for this degree.
ASM IMCOST offers a 2-year programme. The course has been designed to prepare you for leading profiles in the pharmaceutical industry. You get trained by industry experts and professionals. Moreover, the students get to work on live projects that add a whole lot of value to the degree.
ASM IMCOSTs window for applications is now open. The number of seats is limited. So, dont let go of this opportunity and apply now. Visit www.imcost.edu.in for more details.