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Pharma Industry Career Opportunities
Pharmaceutical and Biotechnology organizations play a major role in the Indian economy. OPPI / Organization of Pharmaceutical producers of India, is the scientific and professional body that represents research based international and large pharmaceutical companies in India.
As per their research, the Pharmaceutical Industry in India is the world’s third largest in terms of value and stands 14th in terms of volume. Indian Biopharmaceuticals Industry has also been growing steadily with a 16 – 17% growth rate.
Apart from serving the country’s healthcare objectives and needs, the Pharmaceutical Industry is amongst the largest employers in India and is projected to create a number of new jobs in the decade ahead.
India is home to over 24000 Pharmaceutical manufacturers however, only 25% of them are part of the organized sector. Following the phenomenal success of its information technology industry, India is fast emerging as an important player in the biotechnology sector in the Asia – Pacific Region.
The large pool of scientific talent available at a reasonable cost, a weak of R & D institutions, a rich and varied bio – diversity, a flourishing Pharmaceutical Industry, strong IT skills and an English speaking population have all placed India favourably in the global market.
Biotechnology Companies in India :
Biotechnology is the new sunrise sector in India and is poised to take the country into the next big league of internal and international investment. The country has traditionally done well in Pharmaceuticals sector and this has helped evolve the Biotech sector over the last 10 years.
The number of biotech companies in India has increased from 20 to 380 in the last few years. A number of companies are investing significant amounts of money into R & D to create Biotech drugs that can effectively treat cancer, diabetes and other chronic illnesses.
The presence of * a broad spectrum of firms across pharmaceuticals and biotechnology has resulted in an increased demand for qualified talent with Industry relevant skills.
CEO’s have long said that people are their company’s most important assets. But making the most of them has acquired a new urgency. Any Pharmaceutical company intending to grow has to put the right person on the right job and should do it very fast.
The company normally applies focus and drive towards capital utilization, IT services, equipment and processes and strive to make it world class. Unless talented people are employed, it is virtually impossible to make the investment productive.
India’s strength is its English speaking people and we have no dearth of qualified personnel available in India.
The manpower needs of the Pharmaceutical & Biotechnology Industry are very high and opportunities are opening up across all levels of the organization pyramid. The industry is looking to hire talent including fresh graduates and lateral hires.
Though there are manpower needs across the board, the key focus areas are Research & Development, Sales & Marketing and Technology. Employment opportunities in the Pharmaceutical industry can be broadly bucketed in 3 groups – R&D. Manufacturing and Sales & Marketing.
While there is a qualified talent available for Manufacturing and Sales & Marketing, there is a major shortfall of qualified talent for R&D. Most firms are looking at bringing in expert talent or people of Indian origin wanting to return to India to fill R&D vacancies.
Even for functions where there is qualified talent available, there does exist a gap in the skills available – and skill required for the talent to become employable.
Most resources for Sales & Marketing require training or retraining to become effective medical representatives and front line Sales & Marketing executives. Resources in manufacturing functions require training at the process level and the need to provide relevant domain training to become efficient shop floor resources.
While the rapid growth of the IT industry has aided the growth of employable talent for the outsourced functions like clinical research, etc. The industry has huge potential for growth and in turn job creation.
While traditional job roles in Sales & Marketing is for one to become front end medical representatives that have conversations with doctors to create awareness about new drugs launched in the market, there are new avenues opening up.
Pharmaceutical firms have started leveraging social media in their interactions with users and medical practitioners. They are also investing significant time and effort in creating a brand with customer.
This is opening up new roles in campaign management, brand management, social media management etc. Pharmaceutical outsourcing is also opening opportunities with Marketing & Sales Global Shared Services centres of various firms.
There are vacancies that are being created for jobs in MIS, education and training of global field staff on new drugs, sales planning. call centre services etc.
Traditional manufacturing roles have also evolved over the years. With increased process optimization, manufacturers are looking for people who have relevant expertise in quality control and have process certifications.
However, the real growth in talent demand is coming from Research and Development. There is a huge demand for PhD’s who can do fundamental research. The boom in Pharmaceutical outsourcing is resulting in roles opening up in drug discovery, pre-clinical trials and clinical trials.
There are also a plethora opportunities on the legal side with increased outsourcing of Pharmaceutical contract reviews etc.
Pharmacy Career Course :
Youth looking to enter the Pharmaceutical and Biotechnology Industry need to consider taking up educational degrees in BSc, B.E, B.Tech, B.Pharm and M.Pharm.
The Pharmaceutical Industry has a heavy reliance on research and development and will continue to hire PhD’s from multiple streams. The advancement in science and technology will open up more avenues for graduates from allied industries to enter the Pharmaceutical Industry.
This includes opportunities for statisticians in clinical research data analysis, economists in predictive modelling for disease management, social media experts for disease awareness creation etc.
Pharmacy Remuneration :
Entry level salary in the Pharma Biotech Industry is presently around ₹ 200000 per annum and qualified personnel can get emoluments from ₹2500000 – ₹ 3000000 per annum. This would be over a 10 – 12 year horizon.
Pharmacy Qualification Requirements :
Beyond the right qualifications, the Pharmaceutical & Biotechnology industry looks for talent that has the right life skills to succeed in these roles. This includes good communication skill, research oriented mind set ( for R & D roles ), attention to detail ( process & quality roles ), team work and most importantly a passion for the industry.
Sustained success in this industry requires individuals approach to the industry with the desire to build a career in the industry. The more number of years one spends in the industry, the greater will be the domain understanding and this will open up multiple avenues for career progression.
Pharma Industry Job Prospects :
Presently job prospects are available in the field of biotechnology, bio medicine, drug discovery, medical transcription, sales and marketing, bio combinations, herbal drugs. toxicology, quality assurance/ control, supply chain management, healthcare, BPO and logistics.
The positions could vary from medical representatives, sales executives, product managers, Pharma business developers, product and process developers, distributors, bio technicians, lab technicians, analytical developers, medico marketing, packaging developers, contract manufacturers etc.
India has always been an important contributor to the Pharmaceuticals sector with the domestic market showing unprecedented growth in the last few years. The sector is growing at 10 – 12% per annum with growth in population. specifically increasing number of old people, rapid urbanisation, better purchasing power with the middle income group and the focus of the country towards innovation and research.
The Biotechnology and Pharmaceutical industry are fast growing presenting opportunities for the youth of today to not just secured employment but also build out long term careers in their chosen fields.
Career progression in both industries will be rapid in the next few years given that both the industries are at the cusp of a boom. Those starting, their career should look at the long term prospects of any industry that they are entering today.
Those already in the midst of the career should consider opportunities for rapid growth in the near term in their current industry of choice. For both groups of individuals, the Pharmaceutical & Biotechnology industry has plenty to offer.
There are opportunities both with Indian and multinational firms with means to gather global exposure. Success in both industries will require relevant skills, perseverance and passion to solve problem that have broader social impact on the people around us.
The ability to create an impact, save lives and transform the world is the biggest draw of this industry.
Application Form Submission 16 Dec 2020 to 16 Jan 2021.