India holds an important position in the global pharmaceutical market. Apart from being the largest provider of generic drugs worldwide, the pharmaceutical sector in India caters to more than 50% of the global demand for various vaccines, 40% of generic demand in the US and 25% of all medicine in the UK. With numerous opportunities for growth and development in the sector, no doubt it is also one of the most sought-after sectors offering a variety of career and job opportunities.
Here we look at the 5 most high-paying career options in the pharmaceutical industry.
Also Read: Check the best career options in Pharmacy with Regulatory Bodies and Government Agencies here
Average Salary: 3.5 lakhs per year
Pharmaceutical Sales Representatives are sales professionals specialized in selling pharmaceutical and medical products. They assess clients’ needs and present suitable promoted products. They also liaise with and persuade doctors to prescribe products utilizing effective selling skills and performing cost-benefit analysis. These sales representatives prepare and maintain records for sales leads and the progress status of accounts.
Average Salary: 5.2 lakhs per year
Regulatory specialists are professionals who assist medicine or biotechnology companies to gain approval for their products. They also advise scientists on the ways to follow regulations when developing medicines and consult with government officials on how to make devices or substances compliant. They make sure that every activity that occurs within a drug's lifespan meets all the guidelines. They apply for all necessary approvals and marketing permits as well as track, obtain and renew any required permits and licenses. Successful regulatory specialists are critical thinkers who understand both government and medical policy.
Average Salary: 6 lakhs per year
They provide guidance to the teams of data analysts and researchers who collect and evaluate clinical data. Clinical data managers organise the data from clinical and pharmaceutical trials and work with other data professionals to manage the data. Apart from that, they document, verify, validate and execute regulatory-compliant programs to perform clinical data management activities. They even engage in study planning to ensure the timely commencement of CRF and database design and edit checks.
Average Salary: 7.4 lakhs per year
A pharmaceutical research scientist is a professional who performs research for drug discovery, development, and testing. These professionals are usually bench-level scientists who execute experiments as part of a team-based research project aimed at introducing new drugs/medicines to the market. Pharmaceutical scientists often work for pharmaceutical or biotechnology companies with a focus on therapeutic inventions.
Average Salary: 10 lakhs per year
These professionals are experts in biology and technology. They offer guidance and advice to managers at biotechnology organizations on ways to develop improved medicines and medical devices. A biotechnology consultant also helps to identify conditions that need treatment or current trends in the biotechnological industry to consult with leaders on which new projects they should begin. Through a better understanding of treatments, medical devices and developing products within the industry, successful biotech consultants provide accurate advice for increasing profits.
A research pharmacist with a dynamic entrepreneurial streak, Nikkhil K Masurkar is the CEO of the ENTOD International Group - a leading speciality research-based pharma company specializing in ophthalmic, ENT and Dermatology medicines.
As a third-generation entrepreneur, Nikkhil took over his family’s three-decade-old pharmaceutical business. However, to ensure he was adequately prepared to lead the organisation into the 21st century, he delved deep into clinical pharmacy and pharmacy research for several years prior to it. He is a highly qualified research pharmacist from Kings College London (UK) with various clinical pharmacy and formulation research accreditations to his name. He also studied clinical pharmacy in Belfast and is also a member of the prestigious Royal Pharmaceutical Society in the UK.
His strong leadership qualities, dynamic entrepreneurial spirit and sharp business acumen together with impressive pharmaceutical and research skills have enabled ENTOD to become one of the fastest-growing specialty pharmaceutical companies in India and abroad.
