Emerging opportunities in pharma industry

Abstract

Almost every pharmaceutical graduate, during the tenure of his/her study, is in a dilemma when it comes to choosing the professional Þ eld. Conventional jobs related to formulation, synthetic chemistry, analytical research, microbiology, marketing and sales are evergreen and well known, but there are some newer opportunities with tremendous potential which need to be talked about. There are upcoming jobs in the Þ elds of clinical research, regulatory affairs and intellectual property rights. These are prospering at a very high rate and can give rise to a sea of opportunities in the coming years. The demands of these Þ elds are continuously growing because of stringent regulatory requirements and a big pool of talented scientists to address these issues. The word ‘outsourcing’ also has a signiÞ cant impact on the pharmaceutical industry. The lower economic costs, a vast pool of skilled workers and a large demographic variation of patient population favor the winds of change. Big pharmaceutical houses in the developed countries are keen on outsourcing their production and research to developing countries like China, India and Malaysia to increase the margin of their proÞ ts by lowering their research and Þ ling costs. This in turn is a boon for the Indian pharmaceutical industry and is giving rise to the concept of contract manufacturing and contract research among the Indian counterparts. The outcome: strategic alliances between both Indian Þ rms and foreign based companies and Indian companies entering the domain of contract research. Key words: Opportunities, Clinical research, Regulatory affairs, Intellectual property rights, Contract research.