|Fairleigh Dickinson University||Teaneck||New Jersey|
|New Jersey Institute of Technology||Newark||New Jersey|
|Rutgers University||Camden||New Jersey|
|Saint Joseph’s University||Philadelphia||Pennsylvania|
|University of the Sciences||Philadelphia||Pennsylvania|
The Pharmaceuticals Market
The global pharmaceuticals market is expected to reach $1.5 trillion in 2023, up from $1.2 trillion in 2018. This growth is expected to continue, making pharmaceuticals one of the fastest growing, largest, and most lucrative industries in the world. With so much growth and demand, it’s not surprising that most positions in this field command a sizable piece of the pie, with science, engineering, research and development, pharmacy, and management leading the pack. According to the Bureau of Labor Statistics (BLS), people working in these fields rarely average less than $100,000 annually, with managers and top executives earning up to $182,600 and $208,000 per year, respectively.
The Pharmaceuticals MBA
The demand for most positions in the pharmaceutical industry is high, especially in the area of management. Based on this demand, a growing number of schools now offer MBA programs that focus on pharmaceuticals or pharmaceutical management. Examples include:
- Ervian K. Haub School of Business at Saint Joseph’s University, MBA in Pharmaceutical & Healthcare Marketing
- LeBow College of Business at Drexel University, MBA with a Concentration in Pharmaceutical Management (customizable concentration)
- Martin Tuchman School of Management and the Office of Graduate Studies at New Jersey Institute of Technology, MBA with an Interdisciplinary Certificate in Pharmaceutical Management
- Mayes College of Healthcare Business and Policy at University of the Sciences, MBA in Pharmaceutical and Healthcare Business
- Rutgers Business School at Rutgers University, MBA with a Concentration in Pharmaceuticals Management
- School of Business Administration and School of Pharmacy at Cedarville University, PharmD/MBA
- Silberman College of Business at Fairleigh Dickinson University, MBA in Pharmaceutical Management
These programs and many others are so successful, that most students receive lucrative job offers or promotions before they graduate. Others find employment within months of receiving their degree.
MBA students seeking a focus in pharmaceuticals will find a range of program titles such as MBA Pharmaceutical Management, MBA Healthcare and Pharmaceutical Management, MBA Pharmaceutical and Healthcare Business, MBA Pharmaceutical and Healthcare Marketing and MBA Healthcare (designed for healthcare professionals looking to manage delivery systems, as well as executives in the pharmaceutical and life sciences industry.) While program titles vary, all curriculums include the standard MBA core, along with many of the same pharmaceutical topic areas. Some sample courses include:
- Economics of Healthcare and Pharmaceuticals
- Ethical Issues in Pharmaceutical Business
- Forecasting for Drug Development Strategy
- Health Economics
- Healthcare Investment and Entrepreneurship
- International Pharmaceutical Business
- Investing in Medical Technologies
- Issues & Trends in Health Policy
- Legal, Regulatory, and Ethical Issues in the Pharmaceutical Industry
- Managing the Pharmaceutical Sales Organization
- Pharmaceutical Industry: Issues, Structure & Dynamics
- Pharmaceutical Marketing & Sales Management
- Pharmaceutical Marketing Research
- Pharmaceutical Product Management
- Pharmaceutical Research & Development
- Regulation of Rx Drugs
- Strategy and Competition in Pharmaceuticals and Biotechnology
- U.S. Healthcare System & Pharmaceutical Managed Markets
Adding a pharmaceutical specialization to your MBA might increase the time you spend in your MBA program but in general, a full-time MBA takes two years to complete and a part-time program may take three years or more to complete. If you would like to speed up the process, the accelerated MBA option may take a little as a year or up to 15 months to complete. Regardless of how long it takes, this degree path promises an excellent return on investment.
Considering an Online MBA? Use our interactive map to find information on schools and colleges offering Online MBA programs in your state and across the U.S.
Ervian K. Haub School of Business. Saint Joseph’s University, n.d. Web. 23 June 2016.
“Global pharma spending will hit $1.5 trillion in 2023, says IQVIA.” Pharmaceutical Commerce. Healthcare Commerce Media Corporation, 26 Jan. 2019. Web. 26 Jun. 2019.
LeBow College of Business. Drexel University, n.d. Web. 23 June 2016.
Mayes College of Healthcare Business and Policy. University of the Sciences, n.d. Web. 23 June 2016.
"Medical and Health Services Managers." U.S. Bureau of Labor Statistics. United States Department of Labor, 17 Jun. 2019. Web. 24 June 2019.
"Pharmaceutical Market Worldwide Revenue 2001-2014." Statista. Statista Inc., 2016. Web. 23 June 2016.
Rutgers Business School. Rutgers University, n.d. Web. 23 June 2016.
Silberman College of Business. Fairleigh Dickinson University, n.d. Web. 23 June 2016
"Top Executives." U.S. Bureau of Labor Statistics. United States Department of Labor, 18 Jun. 2019. Web. 24 June 2019.