Pharmaceutical Product Manager Job Description and Profile
The pharmaceutical product managers are the customers’ representatives for the pharmaceutical company. He or she shoulders the responsibility of launching new medications in the market based on the requirements of the customers. With the aid of market research findings, the pharmaceutical product managers plan launching existing products in a new market or launch a new product through new target market identification. These individuals identify and utilize customer demographics and requirements to market the products of the company to those customers who will be the most likely target audience for the products. The efforts of the product managers determine the manufacturing schedules of a pharmaceutical company.
Pharmaceutical Product Manager Duties and Responsibilities
- Working with the marketing department of the company
- Planning and managing the development of a specific medication as an independent business segment
- Preparing the sales estimate, and the profit and loss for the product
- Planning the marketing strategy and hiring the sales personnel for promoting the specific product
- Developing a name and product brand
- Coordinating with the advertisers and the media for the promotion of the medication
- Liaison with the research and development department to prepare the clinical trials schedule and the manufacturing schedule
- Collecting and analyzing the customer feedback
Pharmaceutical Product Manager Education, Training, and Qualifications
A bachelor’s degree in a science field, such as biology or chemistry is required to find employment as a pharmaceutical product manager. Several universities provide minors qualification in biotech or engineering management, which is useful to make a career in this segment. An additional training in business administration provides a competitive edge to individuals over other potential candidates who lack this qualification. Training with pharmaceutical company as an intern during the bachelor education is beneficial.
Pharmaceutical Product Manager Degrees, Courses, and Certification
Science related degree focusing on biology or chemistry is important to qualify for the position of a pharmaceutical product manager. Completing short-term courses in General Sciences that provide the necessary knowledge on the various terminologies. Individuals aspiring to become successful in this field must complete business management programs or advanced science courses. Undertaking pharmaceutical marketing courses and attending trade conferences is beneficial. Most employers that hire pharmaceutical product managers require an advanced degree, as these are senior positions.
Pharmaceutical Product Manager Skills and Responsibilities
- In-depth knowledge on general science
- Organizational and management capabilities
- Demonstrate leadership traits
- Excellent communication and marketing skills
- Strong verbal and written communication abilities
Pharmaceutical Product Manager Salary
The pharmaceutical product manager’s salary ranges from $57750 to $151260 per annum with the median salary estimated as $112800.