|
The pharma industry leaders in Karnataka noted that technical expertise remains foundational and the young qualified pharmacy professionals need to develop strategic thinking, regulatory awareness, and business acumen to thrive in a competitive and rapidly changing market.
In a dynamic panel discussion held at the Krupanidhi College of Pharmacy in its 3rd edition of Job Fair and Career Expo Hackathon 2025, industry leaders from the pharmaceutical, herbal, biotech and healthcare sector came together to share insights on the evolving landscape of innovation and the critical competencies required to succeed both within established organizations and as entrepreneurs launching start-ups.
Emphasizing the intersection of science, technology, and business acumen, experts agreed that technical knowledge alone is no longer sufficient in today’s fast-paced pharma environment.
“We are seeing a clear shift towards cross-functional capabilities,” noted Dr. Raman Dang, principal, Krupanidhi College of Pharmacy who compered the session titled ‘Essential competencies for thriving in the pharma industry and launching successful start-ups’.
The panel comprised Jatish Sheth, president, Karnataka Drugs & Pharmaceutical Manufacturers Association (KDPMA) and director Srushti Pharma, Suresh Khanna, past president, KDPMA and partner, Dossier Solutions & Services LLP, Dr Sirse Kranti Kumar, registrar, Karnataka State Pharmacy Council, Dr Sohan Chitlange, vice chancellor, Alard University, Praveen Rajan, manager, Incubation & Operations Bangalore Innovation Centre, Dr Govindarajan, chief innovative officer, Kapiva Ayurveda, Abhishek Thomas, Sparsh Hospital Dr Trishna Roy, director, Ray Life Sciences and Mujeebuddin Shai, founder & CEO, ClinoSol Research.
Among the top competencies identified were regulatory and compliance, data-driven decision making for real-world evidence and AI-driven analytics to accelerate R&D, and improve patient outcomes. For those looking to launch start-ups, the panellists stressed the need for agility, risk tolerance, and customer-centric innovation. As drug development becomes increasingly collaborative, the ability to lead cross-disciplinary teams and build strategic partnerships was underscored as a critical success factor. The discussion also touched on the growing importance of sustainability, patient engagement, digital transformation market access, pricing models, and funding strategies as drivers of long-term value for translating into viable businesses.
“Whether you're climbing the corporate ladder or building something from scratch, success in the pharma sector now demands a blend of curiosity, resilience, and continuous learning,” said the panel.
The session concluded with a call for academic institutions, incubators, and industry mentors to better equip emerging talent with these multidimensional skill sets, preparing the next generation of pharma innovators for the challenges ahead.
Speaking to Pharmabiz on the sidelines of the event, Suresh Khanna said that to be successful in a pharma industry or start-up requires a deep domain knowledge with updates on drug development, formulation technologies and regulatory pathways. There is need to learn the frameworks of US FDA, EMA, CDSCO, WHO GMP because start-ups often fail due to non-compliance. Also pharma is built on trust. Strong quality systems like QMS, GMP, GLP are non-negotiable. Networking too cannot be compromised for CROs, CMOs, academic institutions, and investors to stay competitive.
Areas with strong growth potential opportunities for start-ups are nutraceuticals & functional foods, Novel Drug Delivery Systems like liposomal formulations and sustained release, Biologics & Biosimilars too are high-margin but complex and suitable for advanced start-ups. Digital Health + Pharm where AI in drug discovery, clinical trials, or personalized medicine hold promise.
There is ample potential in contract manufacturing and development as many global companies outsource. Scope is there for specialty generics like off-patent products with unique formulations.
Start-ups need to identify niche areas, undertake market research, build the right team, secure funding and scale to differentiate, said Khanna.
|