Human Resource Management in Pharma Industry

The Indian pharmaceutical industry is 104 years old. In India the first pharmaceutical factory was started in West Bengal in the year 1901. Subsequently other pharmaceutical industries were set up in various parts of the country, till 1970, only Multinational companies were operating in India, like- Pfizer, Roche, Sandoz, Ciba- Geigy, E-Merck, Glaxo etc. By 1970-71, the production of bulk drugs was Rs.50 Crores and of formulations are worth Rs.250 Crores. India is one of the largest bulk drug producer and most advanced among the developing countries. Since people are quite complex and heterogeneous, as a result effective management has become a big challenge for the organization are made up of people and function with people without people organisations cannot exist. The survival and prosperity of the organizations mostly depend on skills, capabilities and attitudes of the employees. Hence, they need to be properly managed by appropriate application of Human Resource Management practices in tune with the changing times and requirements and achieve the said goals and objectives of the organization.