Pharmacy

With the annual turnover (from domestic sales and exports) inching towards the $23-billion mark along with a steady double-digit growth rate, the Indian Pharma Inc never had it so good. Furthermore, according to a report by McKinsey, the country is poised to rank among the top 10 markets of the world by 2015. Amid this extensive growth and given the knowledge-intensive nature of pharma business, the strategic role of human resources cannot be overemphasized.

There are multiple perspectives to this evolving success story. While the present opportunities and future prospects make a bright case for a successful career in pharma, the challenge seems to be in not only recruiting the right talent with the required experience but also retaining these resources for a reasonable time. The span of requirement ranges from workforce in research to manufacturing, marketing to supply chain management, among others.

One of the key questions facing the pharma industry today is getting the 'employability quotient' right among the new joiners. To bridge this apparent gap between academic curriculum and industry's requirement, it is imperative to fortify the former with specialized courses in the fields of drug discovery, clinical research, quality assurance and regulatory affairs in line with global practices. This will go a long way in not just filling up the talent gap in the country, but also help India become a global talent pool for the pharma industry. For more on this soft yet critical part of the pharma value chain, where both value and volume matter, turn to 'Market Trends'.

That said, the last-mile connectivity is as crucial for pharma as for other sectors. To elaborate, availability and accessibility of pharma products at the right place and right time can make a key difference in a brand's success. Especially with rural penetration being high on the priority list of the pharma industry, an effective supply chain management is the need of the hour. However, a lot is desired in terms of warehousing, transportation and distribution to provide an uninterrupted and cohesive pharma supply chain in India, which is currently highly fragmented and unorganized.