Research-minded pharma students are schooled for their technical prowess. Yet, pharmaceutical companies require managers who can create products as well as market them; execute IPR and play a variety of administrative roles. For years, executives have been learning management skills on-the-jobs. NMIMS ensures that it would not be necessary. They can train professionals with both technical and management expertise, to make them job ready.
NMIMS designed a course which combines two post-graduate syllabi of M.Pharm and MBA spreading over two disciplines, Pharma Tech and Healthcare Management, a unique three-year integrated programme, saving a valuable year for students. The course balances pharma research and management education, cutting down academic hours for students.
“The M.Pharm MBA program is based on presentations and interactions with a strong focus on the research components of pharmacy. This pedagogy enables students to take decisions based on their strong academic, practical and industrial background in the pharma sector. The course is reviewed regularly in consultation with our Board of Studies, which comprises people from pharma industry, research, FDA and pharma institutes from all over India,” says Dr. Bala Prabhakar, Dean of NMIMS Shobhaben Pratapbhai Patel School of Pharmacy & Technology Management.
Last year, the institute placed their students in top pharmacos like Glaxo SmithKline, Johnson & Johnson, Pfizer, Novartis, Cipla and Piramal. “Pharma companies want managers- not workers, in R&D management, IPR management, marketing management, to suit the global requirements of their companies. They want R&D managers to know business implications and benefit of their research projects,” says Dr. Prabhakar. The institute offers placement assistance and the highest annual package was at Rs 13 Lakh and the average package of their students was Rs 6 Lakh per annum.
The inherent demand in the healthcare industry for managers who grasp technical aspects intricately, has been growing and will grow. “The course is tailor-made to suit the needs of the pharmaceutical and healthcare industry. Well-trained students can become Techno Managers to handle managerial roles in not only management area but also in the technical area of pharma and healthcare business. We expect our students to be placed across sales & marketing, project management, market research, production planning, supply chain and operations,” says Dr. Prabhakar.
MBAs in the healthcare industry
In the last few years, the tables have turned on strong and growing industries. Yet, healthcare and pharma have always been recession proof, being an essential service. Globally too, healthcare is one of the few industries that have increased capital spends for research and expansion, becoming a favoured sector for job seekers. The integrated course not only places students in a growth sector, but also paves the way for a career path that will lead them to the pinnacles of job satisfaction.