The field of pharmaceuticals is one of the world's most essential and rapidly changing industries. As a result, a career in medications can be both challenging and rewarding. The industry offers various career paths, from research and development to sales and marketing to administration and management.

An MBA program with a concentration in Pharmaceutical Management can help prepare you for a successful career in this dynamic industry. An MBA in Pharmaceutical Management can provide you with the knowledge and skills you need to manage a pharmaceutical company or department, including financial analysis and management, marketing; strategic planning; human resources; and regulatory compliance.

Whether you wish to progress in your current career or switch to this exciting field, an MBA in Pharmaceutical Management can give you the edge you need to succeed.

MBA in Pharmaceutical Management : Course Details

MBA in Pharmaceutical Management is a two-year full-time course. The first year of the course covers core subjects such as marketing, finance, operations management, and human resource management. In their second year, students can choose from various electives such as pharmacology, clinical research, and regulatory affairs. The course also includes a summer internship, allowing students to gain practical experience in the pharmaceutical industry.

Program

Postgraduate

Course

MBA in Pharmaceutical Management

Duration of the Course

2 year (based on the top 4 universities)

Eligibility Criteria

Graduation from a recognised university with a minimum aggregate score of 60%

Entrance Exams

English language proficiency test score

Tuition Fees

INR 1,00,000 to 10,00,000

Jobs

Pharmaceuticals Distributors, Pharmaceutical Purchase Manager, Formulation Pharmaceutical Technology Scientist etc.

Average Salary

INR 3,00,000 to 10,00,000

Scope of MBA in Pharmaceutical Management

Pharmaceutical commerce is one of the most rapidly growing industries in the world. The scope for MBA in Pharmaceutical Management is, therefore, very bright. An MBA in Pharmaceutical Management will give you the skills and knowledge to take on managerial roles in this industry. You will learn about the various aspects of pharmaceutical management, including marketing, finance, operations, and human resources. This program will also give you an understanding of the regulatory environment in which the pharmaceutical industry operates. Students who complete an MBA in Pharmaceutical Management will be prepared for managerial positions within pharmaceutical companies, hospitals, and other healthcare organisations.

Best Colleges for MBA in Pharmaceutical Management

If you want to make the best career as a pharmaceutical management professional, then you need to enrol in one of the leading institutes offering the MBA program. To help you, we have listed below the best colleges for an MBA in Pharmaceutical Management.

S.NO

University Name

Country

QS World Ranking

1

University of Maryland, College Park

USA

164

2

Université Laval

Canada

433

3

University at Buffalo School of Management, The State University of New York

USA

NA

4

Haub School of Business

USA

NA

MBA in Pharmaceutical Management : Syllabus

The MBA in Pharmaceutical Management syllabus is designed to develop the skills and knowledge necessary for a successful career in the pharmaceutical industry.

  • A comprehensive course that covers all aspects of pharmaceutical management
  • Provides a solid foundation in business administration principles and practices
  • Covers topics such as supply chain management, marketing, finance, and regulatory affairs
  • Prepares students for careers in the pharmaceutical industry in a variety of roles such as product managers, marketing managers, and executives
  • Offers an experiential learning component that includes a practicum or internship

Cost of Studying MBA in Pharmaceutical Management

The studying expenses for an MBA in Pharmaceutical Management can be expensive. However, several scholarships are available that can offset some of the cost. The average tuition and fees for an MBA program in Pharmaceutical Management are $29,300 per year.

S.NO

University Name

Course

Duration

Tuition Fees in INR

1

University of Maryland, College Park

MBA in Pharmaceutical Management

2 Year

2,50,000 To 4,00,000

2

Université Laval

MBA in Pharmaceutical Management

2 Year

3,00,000 To 5,00,000

3

University at Buffalo School of Management, the State University of New York 

MBA in Pharmaceutical Management

2 Year

4,00,000 To 5,00,000

4

Haub School of Business

MBA in Pharmaceutical Management

2 Year

3,00,000 To 6,00,000

Eligibility Criteria for MBA in Pharmaceutical Management

A candidate wishing to apply for an MBA in Pharmaceutical Management must meet particular prerequisites. These include specific entrance exams and qualifications that all applicants need. 

Please read below: 

  • Candidates with a bachelor's degree in Pharmacy or Pharmaceutical Sciences from a recognized university are eligible to apply.
  • Candidates with a minimum of 60% marks in aggregate (or equivalent CGPA) are eligible to apply.
  • Candidates with work experience in the pharmaceutical industry will be given preference.
  • Admission to the course is based on an entrance test, followed by an interview.

Exams Required for MBA in Pharmaceutical Management

For any MBA specialization, the two essential exams include the GMAT and English language proficiency test, such as IELTS.

The minimum marks required for these tests may vary from university to university.

We have mentioned these requirements in the below table: 

Name of the University

Exam Name

Minimum Band Requirement

University of Maryland, College Park

GMAT

6.5

Université Laval

TOEFL

6.5 (6.5 in reading and writing each)

University at Buffalo School of Management, the State University of New York

GMAT

NA

Haub School of Business

GMAT

NA

Scholarships to Study MBA in Pharmaceutical Management

MBA students who want to study pharmaceutical management can find scholarships to help finance their education. 

Below are some scholarships:

S.NO

Scholarship Name

Description

Eligibility

Amount in INR

1

Academic Excellence International Masters Scholarship 2022-23

Offered by University of Essex

Having at least a CGPA 6

Up to 50% of the tuition fee

2

HOPES Scholarships, 2022

Open to all nationals

NA

Full Funding

Jobs After MBA in Pharmaceutical Management

After an MBA in Pharmaceutical Management, there are a variety of jobs and profiles that graduates can pursue. The most popular options include working in the pharmaceutical industry as a business development manager, sales manager, or product manager. There are also opportunities for employment in the healthcare sector as hospital administrators or the government as regulatory affairs specialists. Whatever option you choose, an MBA in Pharmaceutical Management will give you the skills and knowledge you need to succeed.

Job Profile

Salary in INR

Business Development Manager

INR 3,50,000

Market Researcher and Drug Developer

INR 4,50,000

Sales Manager

INR 4,00,000

Drug Distribution Manager

INR 4,00,000

Pharmaceutical Purchase Manager

INR 3,50,000

How to Study for an MBA in Pharmaceutical Management?

Starting your MBA journey can feel overwhelming, but the process will flow much smoother with some preparation. 

Here, we will outline the steps you need to take to study for an MBA in Pharmaceutical Management: 

  1. Start by reviewing what an MBA is and what it can offer you. An MBA will give you the skills and knowledge to become a successful business leader. You'll learn to identify opportunities and challenges, develop strategies, and lead teams through complex processes.
  2. Determine your career goals. After you have reviewed what an MBA can offer you, it's essential to determine what type of career path you want to pursue. For example, if you wish to pursue a leadership role in a pharmaceutical company or become a consultant, an MBA will help prepare you for success.
  3. Determine your educational requirements. After determining your career goals and academic requirements, it's time to start researching which MBA programs best match your needs.
  4. Create a study plan and schedule that fits your lifestyle and commitments.

AECC Global India is the best place to contact for enrolling in an MBA in Pharmaceutical Management. Their study abroad experts will help you select the right institute per your requirements and career goals. Thank you for reading!