The Many Possibilities for Physicians in Pharma/Biotech

Much of my talks and blogs focus on the three main roles for physicians in pharma/biotech.  BUT! There are many other career paths for physicians in this industry.  

Business Development: 

Involved in finding opportunities for companies to license assets (products in development or marketed products), acquire assets or companies, and sell assets or the company.  Often referred to as “BD”, knowledge of finance and financial modelling is important (and can be learned!).  

Health Economics and Outcomes Research (HEOR): 

The HEOR function is engaged in generating real world evidence to support the value of a therapy.  In addition to clinical trial data, HEOR professionals utilize other data such as patient reported outcomes (PROs) to evaluate the impact on overall patient outcomes and care. The data generated by HEOR teams supports conversations with healthcare payers to support reimbursement.  

Marketing:

Marketing involves attaining customer insights, branding, and understanding the competitive landscape (amongst other responsibilities!).  This is a commercial function that requires the ability to understand the strengths, weaknesses, opportunities (SWOT) and threats to products and therapies. 

Physicians can transition into these roles through on-the-job development opportunities once they are in a more traditional pharmaceutical role OR enter these directly.  Typically, to enter one of these roles directly, some type of additional training or experience will be required.  For example, for Marketing or Business Development, a Master in Business Administration (MBA).

Ready to make a career transition to pharma/biotech… want to explore a way to use your medical training and knowledge in a fulfilling way without nights and weekends call or charting. Watch this webinar on Getting Past the Three Major Hurdles to a Career in the Pharma Industry HERE .