How to Pursue MBA in Pharmaceutical Management in Canada?

MBA in Pharmaceutical Management in Canada

Pharmaceutical management is a discipline that incorporates health and chemical sciences with management techniques. It teaches students about the safe use of pharmaceutical drugs while providing them with tools to conduct further research.

A bachelor’s in pharmacy and related domains introduces students to basic medicine. Candidates looking to explore the field further can opt for anĀ MBA in Pharmaceutical Management in CanadaĀ to gain familiarity with managerial skills and find employment in high-paying positions in the sector.

Canada has innumerable lucrative opportunities, thanks to its innovative pharmaceutical sector with aĀ 2.1% shareĀ in the global market. Hailed as the ninth-largest world market for pharmaceutical sales, the pharmaceutical industry has strong roots in Canada.

Universities offering anĀ MBA in Pharmaceutical Management in CanadaĀ emphasize practical learning with modern research facilities. Additionally, industrial visits and business case studies help improve students’ understanding of the sector.

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Top Universities Offering an MBA in Pharmaceutical Management in Canada

Canada is considered one of the most popular education destinations,Ā with over 220 public and privateĀ universities all over the country. While all of them follow a basic standard of education, it is crucial to understand and aim for the best in the country.

On that note, here are someĀ topĀ universitiesĀ for MBA in Pharmaceutical ManagementĀ in Canada.

Name of University Tuition Fee Subject ranking worldwide (for pharmacy and pharmacology) Program and Specialization Duration
University of Toronto Approx. CAD 46,270 per year 9 PharmD-MBA programme 5 years
University of Alberta CAD 35,000 85 MBA Pharmacy combined programme 5 years
University of Saskatchewan Approx. CAD 60,612 251 ā€“ 300 PharmD and MBA Combined Programs 5 years
Queenā€™s University at Kingston CAD 25,000 301 ā€“ 350 Pharmaceutical & Healthcare Management and Innovation 10 months

Eligibility for MBA in Pharmaceutical Management in Canada

TheĀ MBA in Pharmaceutical Management in CanadaĀ is a postgraduate program that admits students who have completed their bachelor’s from accredited institutes. Since most of these are combined programs, they require students to be accepted into the pharmacy program first.

Fulfilling the following requirements grants students theĀ eligibility for MBA in Pharmaceutical Management in Canada.

  • An undergraduate degree in related disciplines like biomedical, public health sciences, or pharmaceuticals
  • Minimum grade (usually A-) during the undergraduate study period
  • Scores of English proficiency tests (which may differ by the institute, but standard tests include IELTS or TOEFL)
  • Additionally, some universities accept applications from students pursuing the last year of their undergraduate degree.

Following confirmation of admission, candidates are enrolled for the combined course. The structure for the five-year study is as follows.

  • Two years of pharmacy degree
  • Two years of management studies
  • One year of pharmacy degree

Levels of Education

TheĀ MBA in Pharmaceutical Management in CanadaĀ is only offered as a postgraduate course. Even for combined programs, candidates are only eligible if they complete a bachelor’s degree from an accredited institute.

Some universities offer the flexibility for MSc and MCom students to apply for the course, irrespective of the subjects chosen.

Scope of the MBA in Pharmaceutical Management in Canada

The pharmaceutical sector is one of the driving forces of the Canadian market, with more thanĀ 200 active enterprisesĀ in the country. These contribute to a total of CAD 15 billion to the gross domestic product value of Canada and employ over 100,000 individuals.

Since the pandemic, research activity in the sector has increased substantially. Innovation leads the charge as multiple drugs are created and tested to improve the quality of life.

As advancement in the health sector continues, the industry needs skilled professionals with extensive knowledge of management concepts and drug use. Hence,Ā admission to MBA in Pharmaceutical Management in CanadaĀ can help students cater to this demand.

Specializations

Five-year-integrated Pharmaceutical Management courses offer students the opportunity to branch out into multiple domains of the pharmaceutical industry. To ensure this, here are some offeredĀ subjects in MBA in Pharmaceutical Management in Canada.

  • Economic foundations
  • Financial reporting and analysis
  • Global business environment
  • Data analysis and decision making
  • Clinical Pharmacokinetics
  • Pathophysiology
  • Medicinal Chemistry

Combined with a solid academic curriculum, students are exposed to real-life examples and business models to understand the intersection between management and pharmaceuticals.

Cost of Attendance

TheĀ fees for MBA in Pharmaceutical Management in CanadaĀ are high, going up toĀ CAD 46,270 per yearĀ for five-year courses. However, the integration of business and pharmacy allows these courses to cover comprehensive insights and provide a complete perspective of drug use and management.

Students also have the option to opt for a one-year diploma atĀ CAD 25,000Ā after their undergraduate program.

Job Prospects

The field of Pharmaceutical Management offers a flexible curriculum for students to adapt to numerous roles after completion. Here are some of the expected job profiles with average remuneration in Canada.

Job Title Annual Expected Remuneration
Healthcare Product ManagerĀ  CAD 81,042
Pharmaceuticals Market Manager CAD 83,113
Pharmaceutical Business Development Manager CAD 81,819
Project Manager for Pharmaceuticals CAD 79,116
Pharmaceutical Consultant CAD 75,485

FAQs

Q) Why pursue an MBA in Pharmaceutical Management in Canada?

A) Unlike standard pharmaceutical degrees, anĀ MBA in Pharmaceutical Management in CanadaĀ introduces candidates to an amalgamation of management and drug use. The course provides additional insights into effective drug development, discovery and research, and effective marketing and finance techniques.

Q) Are there requirements for admission to MBA in Pharmaceutical Management in Canada?

A) Students must hold a bachelor’s degree in a relevant field like medical sciences to be eligible for Pharmaceutical Manager. The otherĀ requirements for admission to MBA in Pharmaceutical Management in CanadaĀ are as follows.

  • English proficiency test scores
  • Minimum grades in an undergraduate degree (at the discretion of each university)

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