The pharmaceutical industry is one of the top-performing sectors in India. You may have heard about companies like Sun Pharmaceuticals Industries, Abbott India, Wockhardt, Dr. Reddy’s Laboratories, and Lupin, with multiple manufacturing units nationwide and turnover in billions. Since India is one of the world’s largest exporters of pharmaceutical products, it significantly contributes to the country’s economy. You must be wondering what keeps such a huge industry going. Many factors are responsible for making pharmaceuticals such an attractive industry. However, one particular factor, Pharmaceutical Industry Consultants, plays a very important role in its growth.
The Pharmaceutical industry is unique in that it has several aspects, starting from planning, selecting the most suitable place for manufacturing, getting the required technology, clinical trials of medicines, marketing, and compliance with important government and industry guidelines. You will be surprised to know that Pharma consultants in India do all this hard work and Pharmaceutical Consulting Companies do more. It can give you an idea of how important pharmaceutical industry consultants are for this sector. They provide consultancy to Pharmaceutical companies on developing and selling drugs and are fully conversant with industry regulations. Hence, they can aid and enable Pharma companies to deliver medical treatments to those in need effectively.
What is the profile of pharmaceutical industry consultants?
Pharmaceutical consultants play an extremely important role in the growth of Pharma companies because they make it possible for them to improve product delivery to the target market. Their day-to-day job requires various types of responsibilities, from helping Pharmaceutical companies to plan effective business strategies to performing evaluations of clinical trials. Pharmaceutical industry consultants support their clients throughout a product’s lifecycle. Their job responsibilities include forecasting the costs of drug development projects and helping identify any operational bottlenecks within the organization.
To ensure a Pharmaceutical Company’s consistent growth, a pharmaceutical industry consultant must possess detailed knowledge of the current technological landscape of their sector and be able to suggest the latest technologies and software for companies to implement. It’s also their job to get new clients for pharmaceutical consulting companies. While doing their routine job, they also have to ensure that the Pharmaceutical Company follows all important industry regulations set by regulatory bodies regarding the production and distribution of drugs and pharmaceuticals. It can be a very demanding role for anyone, but also extremely fulfilling.
How much Salary do Pharmaceutical Industry Consultants earn?
The salary package of a pharmaceutical industry consultant depends on the level and quality of experience he or she has acquired in the pharmaceutical industry. However, in a country like India, a Pharmaceutical Consultant can get a salary of 15 to 20 lakh annually. It can go much higher if you choose to acquire specialization in a particular area of pharmaceuticals or pharmaceutical development.
Normally, a Pharmaceutical industry consultant adds much value to organizations like Pharmaceutical consulting companies. Therefore, companies give them good packages and other attractive incentives to keep them happy. Some pharmaceutical consultants have a key role in the day-to-day function of a company. Many new companies in the Pharmaceutical sector performed exceedingly well because of exceptionally talented Pharmaceutical consultants.
Responsibilities of a Pharmaceutical Consultant
To become an effective Pharmaceutical industry Consultant in India, you should be able to perform the following responsibilities for Pharmaceutical consulting companies:
- Ability to work under continuous pressure by meeting tight schedules
- Able to resolve major problems with the best possible solutions.
- Ability to plan successful strategies for importing and distributing products/medicines.
- Able to maintain good working relationships with colleagues and clients.
- Knowledge of the latest international trends in the Pharmaceutical sector to ensure they offer professional expertise.
- Ability to work with the marketing team to ensure they reach out to potential audiences.
- Able to closely monitor the manufacturing process to ensure it meets costs and scheduling.
- Ability to analyze the Pharmaceutical market and supply chain management
What’s the qualification for a Pharmaceutical Consultant?
Ideally, it would be best if you had a graduation degree in the pharmaceutical line to become a Pharmaceutical consultant. Several people join this career after gaining enough experience as a pharmacist or other relevant roles such as medical representative, nurse, Medical Doctor (MD), or scientist.
What Skills do you need for a Pharmaceutical Consultant?
You should have the following skills and experience to become a registered Pharmaceutical Consultant:
- Ideally, a post-graduation degree in the pharmaceutical field.
- Having five to six years of experience in the Pharmaceutical field, preferably in different roles such as a pharmacist or pharmaceutical sales representative.
- Experience in leading a team because it makes the individual confident and highly strategic.
- The ability to work for long hours and meet tight deadlines.
- Having adequate computer skills in using programs such as Excel.
- Previous experience in project management or biotechnology.
- Specialization in a specific area of pharmaceuticals,
