MBA in Pharmaceutical Management in UK: Things to Know

If you are eager to pursue an MBA in Pharmaceutical Management in the UK, you must know that, at present, this career is at its peak. It offers various opportunities to strengthen the careers of aspiring students. It is important to have motivation and passion for taking up this career. MBA in Pharmaceutical Management in the UK requirements vary across institutions. 

It is important to have a bachelor’s degree in business and health. The MBA in Pharmaceutical Management in the UK eligibility criteria includes an undergraduate degree. The average MBA in Pharmaceutical Management in the UK fees ranges between ¬£28950-¬£44240.

Major subjects in MBA in Pharmaceutical Management in the UK are commercial development, pharmaceutical marketing, and sales. It also includes risk management, human resource management, and pharmaceuticals in the broader healthcare market. Demand for skilled pharmaceutical professionals is rising in the current global market. MBA in pharmaceutical management offers elective modules and knowledge of the business. This can help the students to understand the root cause of healthcare issues. 

Top Reason to Pursue  MBA in Pharmaceutical Management in the UK

There are five main reasons to pursue an MBA in Pharmaceutical Management in the UK. These are given below: 

  • The UK is one of the biggest producers of pharmaceutical drugs in the world. This ensures various job opportunities in the pharmaceutical field. An MBA degree in the field will naturally open up several job opportunities.
  • Aspirants can get access to employment opportunities across several leading pharmaceutical companies. Some of the biggest ones in the world are located in the UK.¬†
  • UK has well-known universities which can help students pursue an MBA in Pharmaceutical Management with hands-on learning and impeccable academic credentials.
  • More than 400,000 students are welcomed by the UK annually. This kind of diversity is beneficial for students to flourish and thrive in a multicultural environment.¬†
  • 82% of students get jobs within the graduation period of one year. 95% of students get jobs in the field of medicine here.¬†

Leading Universities 

Below are the top 10 universities to pursue an MBA in Pharmaceutical Management in the UK.

Country Name Top Universities QS World Rankings (2022) Fees and Other Details
UK University of Oxford 1 Annual course fee between £28950 and £ 44240
UK University of Cambridge 2 £9,250
UK Imperial College London 3 £61,500
UK University of Edinburgh 4 £38,500
UK Queen Marry University of London 5 £22,000
UK Manchester University 6 £47,000
UK UCL 7 £42,500
UK University of Bristol 8 £21000-28000
UK University of Warwick, England 9 £49,950
UK King’s College London 10 £17276

General Eligibility 

The MBA in Pharmaceutical Management in the UK admission process is more or less similar across UK universities. There are some aspects that are taken into consideration by the universities during admission. Those are given below :

  • There is a need for a bachelor’s degree in pharmacy, chemistry, or pharmacology.
  • Students need to get 50-60% in their graduation.
  • Language proficiency proof is essential, especially for international students. Scores of TOEFL or IELTS are required.¬†
  • Some UK universities also require work experience.¬†

These are the average requirements for MBA in Pharmaceutical Management in UK universities. 

How to Apply

  • One can apply after completing a bachelor’s degree.
  • Transcripts need to be submitted for all academic credentials.¬†
  • Letters of recommendation and SOPs must be submitted.
  • Tests of English proficiency are required, such as the TOEFL and IELTS.
  • There is a need for passport-size photographs.¬†
  • Students should apply online at the university website and, after that, pay the application fees.¬†

Course Modules

The course structure to pursue an MBA in pharmaceutical management in the UK varies across universities. Seminars, lectures, and tutorials take place to enhance students’ understanding. Some of the course modules are presented below:¬†

  • Context of organization in the industry of pharmaceuticals.
  • The module of foundation
  • Management of projects in the industry of international pharmaceuticals
  • Balance scorecard for the industry of pharmaceuticals
  • Human resource management
  • Pharmacoeconomics
  • Equity and Capital Market for Healthcare
  • Research and Business projects
  • Healthcare marketing
  • Commercial development
  • Pharmaceutical sales and marketing
  • Risk management

Job Prospects and Expected Remuneration

After completing an MBA in pharmaceutical management in the UK, students can start their careers in renowned organizations. Roche, Merck&co., Pfizer, and AstraZeneca are some of the well-known pharmaceutical companies in the UK. Usage, development of new medicines, and precautions are some of the areas where students may find employment. Before starting clinical practice, students must register with the “General Pharmaceutical Council”. In regulatory bodies, pharmacies of hospitals, and other lie opportunities for students to gain practical knowledge.¬†

Working hours for the students are roughly 37 hours a week. 74,800 GBP is the entry package for students on a yearly basis. There is huge scope in the UK after completing an MBA in pharmaceutical management. The concerned degree helps students equip themselves with the requisite skills and capabilities. Government organizations also hire skilled graduates in decent numbers. 

Salaries 

Here are some job positions with their average annual salaries: 

  • Pharmacist – 129,000 GBP.
  • Clinical Pharmacist- 133,000 GBP.
  • Assistant Pharmacist -106,000 GBP.
  • Pharmaceutical Research Scientist- 163,000 GBP.
  • Technician in hospital pharmacy – 120,000 GBP.
  • Pharmacy Manager – 191,000 GBP.
  • Sales Manager of Pharmaceutical – 179,000 GBP.

FAQs 

1. Is there any scholarship advantage for international students pursuing MBA in pharmaceutical management in the UK?

Yes, there are certain scholarship programs for pursuing the course in the UK. Some scholarship names are GREAT Scholarships, Commonwealth Scholarship, and Chevening Scholarship. The government and various educational institutions give these to students. It includes tuition fees and the cost of living in the UK. Some scholarships may offer sums up to 10,000 GBP and more. This amount is usually enough to live in the country as a student. 

2. What is the living cost in the UK?

In the UK, the living cost differs based on the area. The rent of an apartment of 1BHK for one month is 550-650 GBP approximately. It includes the bill for water, electricity, and other utilities. In Northern Ireland, the average cost of rent every week is 83.01 GBP. In London, the weekly rent is 157.48 GBP.

3. What is the future scope of an MBA in Pharmaceutical management in the UK?

Students pursuing an MBA in Pharmaceutical management in the UK can find jobs in the sales, marketing, research, and pharmacy sectors. After the outbreak of Covid-19, there has been sizable growth in the pharmaceutical sector. The course is in high demand as various job opportunities are now emerging across leading global companies. Salaries for MBA graduates in the UK are high, and most jobs have great future growth prospects. There is thus high scope for MBA graduates in pharmaceutical management. 

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