Online master's degrees in pharmaceutical management are often available as Master of Business Administration degrees with a concentration in pharmacy science or pharmaceutical management. These programs are available totally online, and as a combination of online and on-campus classes or with a short residency requirement.
Master of Business Administration in Pharmacy Management
Online pharmaceutical Master of Business Administration degrees may require students to choose a track of study, like institutional leadership or pharmaceutical regulation. Some programs do not require students to choose a specific course of study, but instead integrate subjects like management, leadership, business and courses specific to the pharmaceutical industry. This degree may be considered a terminal degree in pharmaceutical management.
Information and Requirements
Master of Business Administration in Pharmaceutical Management or Pharmacy Science requires completion of anywhere from 17 to 48 credit hours. These degrees may be completed in 1-2 years and generally are hybrid programs, requiring a mix of online and on-campus attendance. Students may complete a thesis, although not all programs require a thesis. Students may be required to travel to their campus for final examinations and a program may stipulate that students must complete a short on-campus residency.
A Master of Business Administration in Pharmaceutical Management includes courses in business, management and marketing. Students develop their strategic thinking and leadership skills along with learning about industry trends and business fundamentals. These programs may be offered online or in hybrid format.
Marketing courses may focus on pharmaceutical marketing or business. Students learn about marketing research, strategic planning and management of sales and products. They explore the differences between generic and competitive drugs and the ways different departments in a pharmaceutical company work together like research and development and sales.
Courses on pharmaceutical regulation introduce students to federal regulation of the drug industry. Programs focus on labeling requirements, the approval process for medications and clinical investigation. Students learn to analyze regulatory materials and to recognize and deal with cases of pharmaceutical fraud.
Pharmaceutical Supply Chain Management
Students look at the practices of manufacturers, providers and distributors in the pharmaceutical industry. From the dynamics of the company to management of financial data and relationships with manufacturers and distributors, students analyze case studies of nationwide delivery systems.
Individuals with graduate-level pharmaceutical management degrees may find employment in pharmaceutical manufacturing, health administration or public and governmental agencies. According to the BLS, as of May 2015, a total of about 281,000 people worked in the pharmaceutical and medicine manufacturing industry, with nearly 34,000 of them working in management occupations (www.bls.gov). As of that time, the average annual wage for managers in the pharmaceutical industry was $140,740.
Students wishing to study pharmaceutical management can enroll in online MBA programs with a concentration in pharmacy science or pharmaceutical management. These programs prepare students for their careers in the field with courses in pharmaceutical regulation, marketing, supply chain management and more.