The coronavirus outbreak has taken a toll on major sectors, but the pharmaceutical industry is fighting. COVID-19 has spread worldwide affecting the lives of many and has brought weakness in the economic system too. There are no definitive medicines till date to fight the virus. This has posed several challenges and opportunities for the pharmaceutical sector. As the crisis globally creates uncertainty, let us look at how it is going to impact the job scenario in the industry that offers the only hope to get rid of the virus.wig shop online nike air max for sale nike air max for sale nike air max 98 nike air max 90 sale custom jerseys nike air jordan men’s sneakers jordan shoes online adidas store custom jerseys original nfl teams jordan 3s dallas cowboys adidas yeezy for men adidas yeezy shoes
A huge impact of coronavirus is seen on the economy but the pandemic has come as a blessing in disguise for the pharma sector, some experts feel. The crisis could seed opportunities despite unemployment and joblessness in the initial few months. The pharma sector will see a quick bounce back to normalcy, the business will augment soon and in turn will generate more employment.
Future strategies of pharmaceutical companies
In fact, it is the time for us to look at opportunities and be prepared as job creation has started with the race to find a vaccine or medicine to neutralize the virus, and qualified job seekers will be in demand, industry experts feel. Short-term strategies will be preferred over a long-term one as the future remains uncertain. They feel the pharma industry will move from a product-centric to a user-centric approach. Shifting focus to design thinking, a personalized planning approach is the need of an hour, they say. As social distancing is necessary even post lockdown, dividing staff between essential and non-essential divisions for effective functioning will be crucial while better productivity from the workforce will ensure no fear of losing jobs.
Will the demand for pharma graduates rise?
Aspiring pharma students, healthcare management candidates and professionals seem concerned about their jobs, salary cuts, with no appraisals and a fear of their prospects coming to a halt. However, pharma job opportunities and openings in the wake of the pandemic will become more competitive. India should emerge as a global pharma hub and an opportunity to become the research and clinical trial hub, providing better for jobs. Companies should try accelerating on a digital platform, especially sales representatives communicating with doctors with the assistance of apps and avoid exposure to the virus. Abbott’s portal a:care is also indicative of a trend in pharma companies – to act as a bridge between patients, doctors and pharmacists to provide better health management.
Automation and digitalization are important aspects and this will create more job opportunities in the fields and collaboration with other industries is a key to success in a pandemic scenario. One example can be the innovative approach of the Government of India when it approached the sugar industries and distilleries to prioritize making hand sanitizers, which addressed the supply issues to a great extent. It is important to understand how the pharma industry can collaborate and innovate to face this challenge. Experts have urged the industry to put the thinking caps on, opt for digital transformation wherever possible and take this opportunity to plan and develop vital strategies. A change in the perspective is mandatory and workers should settle into new and innovative ways of working.
Government intervention in pharma sector
Before the pandemic happened, India was largely dependent on China for bulk drugs or APIs (the active raw materials used in a formulation that provide a therapeutic effect). For manufacturing of these key ingredients, the government has provided a Rs 14,000-crore package that will reduce the dependency of imports from China. This intervention is another golden opportunity which can bring price benefits, more investment, and a bright future for the upcoming job aspirants. Furthermore, the government has put forward setting up bulk drug parks, prioritizing the bulk drug makers in the country.
The current situation is critical and a lot depends on the crisis management measure taken by the government and the industry to have a safe exit post lockdown from COVID-19.