MBA in Pharmaceutical Management is a 2-year postgraduate course that deals with managerial task's knowledge and skills for the pharmaceutical industry. Aspirants who want to associate themselves with various aspects of the pharmaceutical business can opt for this course for a bundle of exciting job opportunities.
|Full Form||Master of Business Administration in Pharmaceutical Management|
|Duration||Course Duration of Master of Business Administration [MBA] (Pharmaceutical Management) is 2 Years.|
|Age||No age limit|
|Minimum Percentage||50% in Under Graduation|
|Subjects Required||Not Specified|
|Average Fees Incurred||INR 2 - 5 LPA|
|Average Salary Offered||INR 2 - 7 LPA (Source: Payscale)|
|Employment Roles||Business Development Manager, Area Sales Manager, Market Research Analyst, Brand Manager|
According to Wikipedia, "Pharmaceutics is the discipline of pharmacy that deals with the process of turning a new chemical entity (NCE) or old drugs into a medication to be used safely and effectively by patients. It is also called the science of dosage form design."
MBA in Pharmaceutical Management in India involves the efficient management of several domains such as branding, sales management, financial planning, etc. Their role is central to ensuring the safe, timely, and well-resourced management of pharma products and market and bringing up several developments within the management to enhance revenue by increasing the branding. Some of the important subjects in the MBA in Pharmaceutical Management course include pharmaceutical management information system, legal aspects of pharmaceutical business, management control system, and strategic management. The job scope of MBA in Pharmaceutical Management is riding owing to the higher demand and marketability of pharmaceutical products across the world daily.
Table of Contents
Admission for MBA in Pharmaceutical Management course requires the aspirant to complete their undergraduate degree with a minimum average of 50% aggregate marks from a recognized institution in any relevant discipline. Students must have cleared the standard entrance exams with good scores, along with fulfilling the essential criteria. There are no age limits for pursuing this course.
Admission procedure for MBA Pharmaceutical Management course is done through merit-basis and management-based. The admission process and the eligibility criteria for MBA in Pharmaceutical Management differ for each institution. The admission is made, considering either the scores obtained in the relevant entrance exam or can be based on merit. The steps to be followed for applying to any MBA institution or college are given below:
Aspirants can apply online by filling the application form available on the colleges' websites and by attaching the required documents. They can also visit the college to apply by filling the form and by submitting the proper documents.
All the shortlisted applicants who get selected based on the entrance exam score or merit will have to appear for the group discussion, followed by a personal interview. On getting selected, the student can pay the fee and get their admit card.
Entrance exams are conducted for MBA aspirants at three different levels, namely at the national level, state level, and university level. These entrance exams will test the basic knowledge of the students who are aspiring to do an MBA course. Institutions consider the scores obtained in the exams for the admission process. The students who are desiring to take up their postgraduate in MBA Pharmaceutical Management should take up the entrance exams and perform well to secure admission. Some of the well-known entrance exams that can be taken are:
The eligibility criteria of the entrance exams vary depending on the conductors of the examination. A few standard patterns that were found among the exams are:
The exam patterns consist of different sections like Quantitative Technique, Data Interpretation, Logical Reasoning, Language Comprehension.
The entrance exam duration is approximately three hours.
The examination can be conducted either in online or offline mode.
The exam pattern changes according to the exam.
MBA Pharmaceutical Management is one of the popular courses in India. The best MBA in Pharmaceutical Management colleges in India, according to NIRF, are listed below:
|24||NMIMS School of Business Management|
MBA Pharmaceutical Management is a postgraduate management course for two years consisting of four semesters. The average fee for the MBA course in Pharmaceutical Management ranges from INR 2 LPA to 5 LPA.
Some of the colleges are listed below according to their fees structure:
|Narsee Monjee Institute of Management Studies, Mumbai||INR 3 LPA|
|IIHMR University, Jaipur||INR 5.8 LPA|
|Chitkara University, Patiala||INR 2.83 LPA|
Pharmaceutical Management is one of the most sought after courses due to its high popularity in the jobs sector and increased popularity. Business administration subjects are combined with pharmaceutical management studies to equip the graduates with the required skills to manage all business domains and ensure the proper management system is followed to achieve targets. Some of the subjects that are included in the MBA Pharmaceutical Management syllabus are listed below:
Read More about MBA Pharmaceutical Management Syllabus and Subjects
Let's break "Why to choose MBA Pharmaceutical Management?" into a simpler manner by breaking it down into the following three short questions.
Master of Business Administration in Pharmaceutical Management is a two-year postgraduate program that focuses on studying various aspects of business and pharmaceuticals. Master of Business Administration in Pharmaceutical Management is a top specialization in MBA programs. Some of the essential subjects for this course include physiology and pharmacology, business research methodology, production and operations management and managerial communication. MBA in Pharmaceutical Management comes with great job scope with companies like Infosys, Cipla, and Ranbaxy Laboratories.
The list of various roles and responsibilities of a pharmaceutical manager is listed below:
Manage Records: Responsible for the smooth running and also manages the ordering and maintaining the records.
Employee Management: Pharmaceutical managers are in a position to recruit and train employees. Also, monitor and evaluate their performance.
Wide Range: MBA Pharmaceutical Management is a dynamic and fast-growing sector that has been developed into a rewarding career options
Career growth: Multiple job opportunities are available in this field. The graduates will have a fruitful future in a diverse field. The pharmaceutical industry requires qualified researchers or technical people, but it also demands skilled managers who can use their managing skills & ideas for the growth of the industry.
Read More about MBA in Pharmaceutical Management Jobs
Listed below are the preparation tips suggested by our experts for MBA in Pharmaceutical course:
Contact students and alumni of MBA: A conversation with the students or alumni of the same course will help make decisions regarding the course.
Prepare for Exams: Understanding the exam pattern and syllabus of the examination that is to be taken is very important. Make sure you prepare a strategy to take up the time-bound exams.
Mock Exams: Taking up mock exams will help prepare for the exam and help you learn time management. Your strengths and weaknesses can be analyzed and can be concentrated further for securing higher grades.
MBA in Pharmaceutical Management is one of the key areas in the medicinal and pharmaceutical manufacturing and distribution industry, owing to the significant role in decision-making and placing financial strategy. Students who want to pursue higher education can do certification courses in related fields or do their Ph.D. Some of the options are:
The job scopes for the graduates of this course are generally higher owing to a significant boom in the pharmaceutical domains daily. The average MBA Pharmaceutical Management salary in the India package ranges from INR 2 to 7 LPA.
Read More about MBA in Pharmaceutical Management Salary
Pharmaceutical Management is always important as they play a vital role in human lives. An MBA in Pharmaceutical Management possess all the necessary skills for that task and can get MBA in Pharmaceutical Management jobs under the following job titles:
Every Industry requires a specific set of skills. In this chosen field, both hard skills and soft skills play a vital role, and the ability to handle criticism, being unbiased will help you prosper in your desired career. By Master of business administration in Pharmaceutical Management, the following skills will be gained: