Opportunities for Pharma Graduates & PGs

ByPrabhakar Bethi M.Pharm, MMM

The Indian pharma industry is on a good growth path and is likely to be in the top 10 global markets in value term by 2020

- PwC – CII report “India Pharma Inc: Gearing up for the next level of growth”

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IPM

The pharmaceutical industry in India is more stable compared to other industries and it is expected to continue so with impressive performance

IPM Growth Trends

Therapy Areas

New Small and Medium Enterprises(SMEs)

• New small and medium enterprises (SMEs) are also likely to play a substantial role in the growth of the India's pharma sector.

• According to the consulting firm Grant Thornton, the country will also see the largest number of merger and acquisitions (M&A) in the pharmaceutical and healthcare sector in the coming years.

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“The Indian pharmaceutical industry is a success story providing employment for millions and ensuring that essential drugs at affordable prices are available to the vast population of this sub-continent.”

- Richard Gerster

Challenges Faced by Industry

• Introduction of Uniform Code of Pharmaceutical Marketing Practices(UCPMP)

• Delays in clinical trial approvals• Uncertainties over the FDI policy• Compulsory licensing• Uncertainty from DPCO & NLEM • Shorter brand lifecycle • Unprecedented Employees attrition rate • Mushrooming regional /local players

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Conventional Career Options

• Sales & Marketing (MBA will be advantageous)• Manufacturing Chemist • Quality Control/Quality Assurance• Medical Department• Training and Development• Hospital Pharmacists in Private & Government

Organizations• Community Pharmacist (working in Drug Store or Retail

Pharmacy)• Drug inspector/Government Analyst

• R&D laboratories • Formulation Development• Distribution & Supply Chain Management• Exports & International marketing• Regulatory affairs

Conventional Career Options

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• Medical Transcription• Data Manager• Market research organizations like – IMS, AWAACS etc• Pharma domain specialist in consulting firms like

Accenture, McKinsey etc.• Pharma IT companies, Digital marketing

Not so Conventional Career Options

Additional opportunities for PGs

• CROs -as medical underwriter, Data validation associate, clinical research associate etc.

• Medical writing/Medical Sciences Liaison/ Medical Advisor

• Academics

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Newer Career Opportunities

• Medical and Scientific Services and Communication Agencies• Scientific publications • Medical tourism, Business Process Outsourcing (BPO),

Knowledge Process Outsourcing (KPO) • Pharmaceutical Journalism offers rewarding career for

pharmacists with writing and editing skills. • Intellectual Property Right (IPR) • Digital marketing companies• IT Sector- Medical billing, Medical Coding and Insurance claim

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Pharmacovigilance• WIPRO, Accenture, Cognizant, Quintiles, TCS, PPD, I Gate Patni

Computers, ICON Solutions and Quantum Solutions, etc. • Central drug standards control organizations (CDSCO) has also

made it mandatory for all pharma companies those are working in India to establish a pharmacovigilance department and submit pharmacovigilance reports time to time.

• As a result, most of the pharmaceutical companies outsource their pharmacovigilance program effectively with the help of these IT companies.

• These firms work for both clinical trials and post marketing surveillance.

• Government of India launched the National pharmacovigilance program of India (PvPI) which encourages pharmacovigilance reporting from time to time from different health care organizations

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Acquire additional short-term qualifications

• Short-term postgraduate diploma courses in• Regulatory affairs• Intellectual property rights• Pharmacovigilance etc.

You can into CROs, KPO, BPO and Regulatory Process Outsourcing and MNCs who have in house depts.

Opportunities with Consultancy Firms

Pharmacy grads are absorbed by several consultancy firms as pharmaceutical industry and hospitals are their big clients

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• Deloitte• KPMG• McKinsey• Accenture etc.

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Emerging fields of career opportunities

• Nanotechnology• Neutraceuticals and • Herbal drug industries are rocking in market

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• A person is only limited by their imagination

• Many people pursuing Pharmacy never even realize there are other options other than conventional.

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Practical Nuggets

• You should inculcate some expected traits like punctuality, a go-getter attitude, always ready to learn and mingle.

• You may have sound subject knowledge but should be in a position to communicate effectively in an impressive way.

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Keep in Mind

The Industry does not pay for your degree or learning but what you contribute and how best you deliver the

results

Mere possession of a degree is not sufficient to claim a job

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Take Home Message

• Have a mentor• Be solution minded• Have Flexibility in Approach• Take Initiative• Sharpen Social Skills• Focus on Productivity, Efficiency and Effectiveness• Develop Creative Thinking Ability• Develop Good Communication Skills• Continuously Learn and Update Yourself While Working• Nurture Leadership Qualities

Good Luck in Your Aspiring Career