New Era of Pharmaceutical Management

Pharmaceutical MBA is an emerging course of management studies. It is not because of requirement of professional in this sector but also a great future in this field. Indian pharma sector is a rapid growing sector, the market for pharmaceuticals has expanded tremendously in the past few years. At present, the Indian health care industry is worth about Rs.1,00,000 crore and accounts for nearly 10 per cent of the Indian Gross Domestic Product(GDP). It is expected to register a growth of 15 per cent and become worth more than 1,76,000 crore by 2009. MBA (Pharma Management) is industry-specific program prepares Pharmaceutical Executives with the knowledge and skills required to lead the industry in the 21st century.

Pharmaceutical MBA is the only industry-specific course designed for Pharmaceutical Professionals. As competition for professional advancement intensifies, understanding the latest techniques in management, innovative marketing strategies and effective methods for corporate growth are a necessity. In an ever-changing business environment, the MBA in Pharmaceutical equips you with the knowledge needed to stay ahead of the competition. It is a best alternative for those student who are really interested in pharma sector but not getting admission in post graduation courses due to tough competition and donation policy in colleges all over the India.

WHAT ARE FUTURE PROSPECT OF PHARMA MARKETING

Companies like Glaxo, Cadila, Cipla, Lupin, JK Pharma, Pfizer, Zandu, Dabour India, Bayer India, Ranbaxy, Orchid Chemical, Nicholas Pirmal, Torrent Pharma, Unichem, FDC, Dr. Reddy's Lab, Sun Pharma, TTL Pharma, Parke Davis, Smithkline Beecham etc. appoint fresh graduates preferably having added qualification in Pharmaceutical Marketing.

In view of this scenario, a career in pharma selling holds out bright prospects. According to a survey, pharmaceutical companies spend about 35 per cent of their funds on the brand promotion and sales promotion of their products. At present, about 23,000 pharma companies are operating in India whose annual turnover is about Rs 33,000 crore. After the implementation of the patent procedures of the World Trade Organization (WTO), a lot of multinational pharmaceutical companies will come to India for business.

Many are expected to set up joint ventures and enter other types of alliances. The turnover of these companies may thus go up to Rs 67,000 crore and increase two to three times in next year. There will thus be a great demand for trained people in this field in the coming days.The entry level post in the marketing team is that of a medical representative (MR). Most medicine sales are done on the prescription of doctors. The doctor is thus the key deciding factor in the sale of pharmaceuticals. All pharmaceutical companies thus try to tempt doctors into prescribing their drugs. Pharma selling is normally done at two levels — by the Marketing Team(MT) and Product Management Team (PMT). The basic difference between the two is that the MT works directly for the sales promotion of various products of the company. The team members personally meet the doctors and chemists in their areas. The PMT indirectly works for promotion the sales of the company. They basically focus on brand promotion of the products. For this, they use various modes of publicity like advertising, and holding workshops and seminars for doctors and chemists etc.

An individual may start his career as a Medical Representative / Research Executive / Product Executive / Business Development Executive and after 2 or 3 years he can get promotion in the company and become Area Manager (AM) or District Marketing Manager. After 5 to 6 years he can aspire to become regional manager. There after he can be considered for Zonal Manager / Sales Manager and thereafter Vice President of the company and other top positions.

QUALITY EXPECTED IN A PHARMA MARKETING EXECUTIVE

1) Interpersonal Relationship, 2) Sincerity, 3) Integrity 4) Trust - worthiness, 5) Perseverance/Patience, 6) Salesmanship, 7) Achievement Orientation, Good Health/Personality, 9) Hard Work, 10) Professional qualification from reputed institutes.

ROLE OF MEDICAL REP

The role of a MR is like that of a beat constable. He knows every doctor and chemist in his area and he is the backbone of any pharmaceutical company. His job is to convince doctors to prescribe the products of his company. For this, he also offers incentives and gifts, literature and free product samples to doctors.MRs also meet chemists of their area from time to time to check and promote sales. Normally, a B.Sc degree is a must to become a MR. However, some big pharmaceutical s companies hire people from the arts stream also. But most leading firms and MNCs still demand a M.Sc, B. Pharma, M. Pharma, MBA or Animal Husbandry degree or a qualification in Pharma Management . Primarily a field job, it is preferred more by men than girls. Males comprise 80 per cent of the professionals working with various pharmaceutical companies. However, in recent years there has been more influx of girls in this field.Since the job profile involves convincing doctors in various medical specializations about the products of the company, an MR needs to have excellent communication skills and a pleasing personality. Good understanding of the product is also essential.

Money matters*

In a good pharmaceutical company, a MR gets anything from Rs 7000 to Rs 15,000 at the entry level. Apart from this, he gets bonus, PF, gratuity, insurance cover, LTA, medical allowance and other benefits.``The combination of B.Sc (Medical) with MBA or B.Pharmacy with MBA is the most sought after qualification to get a job in top-notch pharmaceutical companies, which are offering a start of Rs 15,000 a month. Most are offering a package deal for the medical representatives. Middle-rung companies are offering a basic of between Rs 6000 and Rs 7000 under a system of commission, wherein the MRs can earn additional incentives in lieu of sales target achieved,'' says an expert.On the basis of performance, a MR can rise to higher positions like Area Manager, Regional Manager, Zonal Manager, Sales Manager, Marketing Manager, GM, Vice-President, President and CEO of the company.In the PMT, the entry level post is that of Product Executive(PE). In a good company, a new entrant gets between Rs 15,000 to Rs 20,000. Normally, they are work at the headquarters of the company or in metropolitan branches. Their basic job is to promote the brands and image of the company. They also create a lobby of prominent doctors in the favor of their company.

* Depends upon company


OTHER SCOPES IN PHARMA MANAGEMENT

Other than pharma marketing there are various other scope for Pharma management aspirants in pharmaceutical industry. If a person is done his Pharma MBA with Human resources specialization it should be a great opportunity of HR Manager in pharmaceutical industry.In today’s scenario retail sector is booming .In pharma retail sector some major players are also come, like Reliance. Pharma retail chain is a good opportunity for the aspirants of Pharma management .Health care and Health Insurance is also have a requirement of these professionals.Pharmaceutical company requires Consultancy services for their company, person from pharma background and MBA in Pharma have a good opportunity for these services.Pharma management institute are under establishment in all over India they require well skilled professional for teaching.

COURSES AVAILABLE FOR PHARMA MANAGEMENT

Regular & Correspondence Courses are available in Pharmaceutical Marketing Management , 2 Year MBA (Pharmaceutical Marketing), 2 Year Masters Diploma in Pharmaceutical Marketing Management (Eqv. to MBA Level),One Year PG Diploma in Pharmaceutical Marketing, 6 Month Advance Diploma and 4 Month Diploma in Pharmaceutical Marketing , is offered by various institute .The following areas are covered in the courses of Pharmaceutical Marketing: (1) Pharmaceutical Marketing Management, (2) Pharma Selling, (3) Anatomy, Physiology and Pharmacology, (4) Pharma Product Management, (5) Pharma Distribution Management, (6) Customer Behavior (7) Advertising, ( Pharmaceutical Marketing Communication, (9) Market Research, (10) Drug Law's, (11) Economics, (12) Manufacturing Practices in Pharmaceutical Industry, (13) Qualify Control Management, (14) Production Planning, (15) Fundamental of Management. + Practical Training + Case Studies and Introduction to Information Technology, (16) Human recourse management, (17) International business management, (18) Leadership techniques,(19) Presentation skills, (20)Corporate and business Etiquettes.

ABOUT EXAMINATION

Various entrance exams are held for admission in pharmaceutical management courses like-
1. CET.
2. CAT.
3. ATMA.
4. MAT.
5. XAT

valid scores Of these entrance tests are acceptable.
But separate exams are also conducted by Institute on his level.

There are some institutes in India which are providing specialization courses in pharmaceutical.
Indian Institute of Medical Representative (IIMR),(affiliated to Indraprastha Technological University, Raipur, Chhattisgarh), D - 354, Vikas Marg, Laxmi Nagar (near Subway), Delhi - 92; iimr@indiatimes.com, http://www.iimrworld.com/ ·

Narsee Monjee Institute of Management, Mumbai http://www.nmims.edu/·

National Institute of Pharmaceutical and Research (NIPER), Mohali, Punjab http://www.niper.gov.in/·

Pondicherry University, Pondicherry.·

Mitcon institute of management (approved by AICTE ), opp. Shivchttrapati sports complex,near octroi naka, Byp#!*@$ highway, Belawadi , Pune. Website -http://www.mima.edu.in/ Tel.91-020-27293723.

Indian institute of pharmaceutical marketing (IIPM), Lucknow.

I.P.E.R Institution of pharmaceutical management, Pune.

I.E.S Institute, Opp. Lelawati hospital,Mumbai.· SIESCOM Institute , Mumbai.

( Acknowledgment to different sources)

Article By - Ram vijaywargiya
Contact mail : Ram84vijaywargiya@gmail.com