abhi271183's blog

Number of Pharmacy colleges are  growing day by day.

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With the increasing rate of inflation (near to 12% which is the highest in last 13 years), increasing input cost for production, high government regulations, fierce competition and increasing cost of R&D (now more than USD  1 Billion = Rs. 4,000 crore) pharmaceutical companies are in great pressure.

Pharmaceutical companies are now days’ finding new ways to cut down their cost of operations in which one of the major ideas is Company-College research collaboration. This concept is not new for rest of the world but it is new for Indian Pharmaceutical industry.

Indian pharmaceutical companies are known for their high quality products over the world.

We have more than 80 US FDA plants in India, largest number in any country other than the US.

Indian pharmaceutical companies have huge generic market share in US as well as in UK which generates major revenue for these companies.

Now Question mark –

We have more than 20,000 pharmaceutical companies in India but how many out of them follows GMP as revised by India’s drug regulator some three years ago.

Internal Development or Outside Hiring

If company produces less number of talent or skilled project manager than required, in that Condition Company has to push inexperienced people into the fresh job. But if reverse happens and excess of talent occur as like a spare in the warehouse and becomes the excesses of inventory.

Internal talent development is important because it is less problematic, continuous and cheaper but in contrast outside hiring can be faster and more responsive.

Talent management is not an end itself. It is a continuous process where you have to prepare proper plan and you also need to revise it in a timely manner so as to cancel out the affect of various factors such as changing economy, market and company conditions & policies. The final objective of any business is making profit. Therefore you also have to see the Cost/Benefit ratio in talent management means the talent you are manufacturing is really benefiting to your business or the money which you are investing in it is going waste.

While developing plan for talent Management Company must think on the following points-

Talent management always remains a source of pain for senior executives in the pharmaceutical companies. Number of companies failing in proper talent management sometimes leads to surplus of talent to its shortfall which ultimately hurts company’s profit objective in long term. You can see a large number of companies have opened up special departments such as talent management department, attrition rate management department etc to fight up with this.

Companies always have two options whether to go for proper forecast and long term planning or just react and take action according to the ongoing situation. First option looks good but in the rapid changing economy one couldn’t guess exactly what will happen in next 2-3 years. Therefore sometimes it does not create any meaning to recruit, select and develop candidates in advance.

Talent or human resource is a major asset for any company. Company Invest high amount of money for their recruitment, selection & training and what happens to company if these Talents or Employees leave the organization in short while seeking new opportunities.

Indian Pharmaceutical Industry is one of the fastest growing knowledge based sector with annual attrition rate of near about 30-35% compared to the global Pharmaceutical attrition rate of 10-12% per annum. Current statistics show that higher attrition rate problem mainly exists in Marketing and R&D departments."

It is a set back for Pharmacy profession that pharmacy students study on an average more than 30 subjects in 4 year span but when its comes to the implication of any subject they stands nowhere .

 The main reason for this is that we get only shallow knowledge about various subjects but not in depth. As one studies Clinical Pharmacology & Disease management etc. but if we see the actual picture, pharmacist stands nowhere in patient counseling landscape just after graduation.

Sales and marketing is supposed to be a life line for any pharmaceutical company . Discovery of Drug is a one part, but the most important part in the success of any drug molecule is how it is communicated and promoted among the health care professionals to generate huge revenues for the company.

If we see the traditional system, where drug concept was usually developed in R&D department which than moves to production department and at last to sales and marketing division for sales and promotion of product or drug molecule.

Number of times patient dies just because of unavailability of blood or missing of blood of same group in hospitals in cases of emergencies. Now a day’s scientists are working on artificial Blood which is prepared from liposomes encapsulated hemoglobin (LEH) .