The pharmaceutical industry is at a junction where the global marketplace is experiencing significant transformations. IQVIA has estimated that the global pharmaceutical market will exceed US$ 1.5 trillion by 2023 growing at 3-6% compound annual growth rates over the next five years. Emerging Markets are clearly winning the race and hence becoming ever more important for the industry.
FICCI, in its 2018 study of trends and opportunities for the Indian Pharmaceutical industry has highlighted that India is set to emerge as one of the top three pharma markets by 2030. It has already made inroads in generics in high-value health markets like the US and is supplying over 20% of the generics demand in major geographies. India has the second highest number of US FDA approved facilities and 40% lower labour costs than other manufacturing hubs. India's biotechnology industry comprising bio-pharmaceuticals, bio-services, bio-agriculture, bio-industry and bio-informatics is expected to have an average growth rate of around 30% a year to reach US$ 100 billion by 2025.
While the pharmaceutical industry's performance since 2010 has been impressive, it is also facing a period of significant structural shifts. The broader healthcare sector is experiencing discontinuous developments. The manifold rise in public healthcare spending, rising patient awareness, expanding insurance coverage across the income pyramid and the emergence of new hospital formats are exacerbating these shifts. In the recent past, industry structure in pharmaceuticals has changed with significant changes in the leader board (four of the top ten players, including the market leader, are new entrants). Over the past five years, the distinction between local players and multinational companies has increasingly blurred. Traditional sources of growth are making room for newer ones in patented products, consumer healthcare drugs, biologics, vaccines, and the public health market.
The key to success is a rapid shift in the business model which will be designed to be more access-based rather than the traditional approach of utilising marketing and sales strength. To keep ahead of the fierce competition, senior executives will have to take cognisance and revise their forecasts and business models so that it resonates with the turbulence experienced by the industry. Trends and disruptions such as genetics, cellular programming, 3D printing, predictive analytics, bionics, nanotechnology and patient empowerment are leading to the creation of new pharmaceutical playing fields. The industry envisages transformational breakthrough by becoming more personalised, predictive, preventative and participatory.
As part of this evolution, there is a need within pharmaceutical organisations to re-define existing practices, introduce new technologies and models, encourage cross-pollination between internal teams and cultivate a performance-driven culture that delivers improved quality of access, care and solutions for patients.
The Global Executive MBA Degree in Pharmaceutical Management is a programme designed to prepare senior professionals for this transformation.
It is the best of times with challenges across life sciences and pharmaceutical businesses, coupled with unique opportunities in discovering, developing, launching, manufacturing, and marketing promising drugs for global markets. Advances in gene sequencing and editing, wearable technologies and new scientific discoveries offer tremendous potential. To achieve and to sustain market leadership, players in the pharmaceutical industry will need to strengthen several capabilities and adapt their operating models to deliver better value to both, their patients and their business. Some of the strategic highlights of the programme are as per the following:
The Global Executive MBA Degree in Pharmaceutical Management is jointly offered by the Amrut Mody School of Management at the Ahmedabad University and the Rady School of Management at the University of California San Diego. It is carefully curated to provide insights, planning, and execution skills to turbo-charge participants' careers by focusing on all the subject matters mentioned above and to drive growth.
The first cohort (Batch of 2018) attracted pharmaceutical professionals from diverse backgrounds and roles from across Indian and multi-national pharmaceutical companies. The School encourages women executives to participate in higher learning avenues and hence has policies in place to better facilitate their entry into executive and corporate learning.
Mr Mahesh Nerkar
Dr. Reddy’s Laboratories
GEMBA PM (Batch of 2018)
'One of the biggest advantages of this programme is the opportunity to interact with experienced Indian and international faculty. This programme helps in understanding concepts such as analytics, business strategy and fundamentals of management which allows the participants to gain insights into relevant industry knowledge in this digital age. I would highly recommend this programme to all professionals working across domains such as manufacturing, marketing, and R&D within the pharma industry. While broadening the knowledge base, this programme will also enable you to take the learning back to your careers.'
Mr Umesh Gupta
Senior General Manager, Operations
Zydus Cadila Healthcare
GEMBA PM (Batch of 2018)
'This programme gave me a holistic perspective on strategic pharmaceutical management practices. We got exposure to cross-functional domains such as economics, marketing, finance, that is taught by globally reputed faculty from UCSD, Ahmedabad University, the IIMs and so on. This programme also allows members of the cohort to share best practises and industry experiences. I highly recommend this programme to all senior professionals who want to take the next step in their careers and add more value to their organisations.'
The Amrut Mody School of Management offers a range of Management programmes, from Undergraduate to Doctoral degrees, as well as short term certificate programmes for practitioners. The School works closely with the industry to provide a balance between rigorous practice and strong conceptual education. It aligns with the University's vision with an emphasis on interdisciplinary instruction. The School has adopted experiential learning pedagogies and introduced courses that use the Project Based Learning method.
To learn more please visit www.ahduni.edu.in/amsom
The Rady School of Management at the University of California San Diego is a professional school within one of the top-ranked institutions in the US for higher education and research. Established in 2003, the Rady School of Management develops ethical and entrepreneurial leaders who make a positive impact in the world through innovation, collaboration and knowledge.
UC San Diego is recognised as one of the top universities in the world and is fortunate to yield a culturally diverse, international student body. The Rady School embraces cultural inclusion as essential to the fabric of the school. Diversity is fundamental to creativity, to innovation, to insight and especially to understanding, all of which contribute to the mosaic that makes Rady School so extraordinary.
To learn more please visit www.rady.ucsd.edu