Companies related to Pharmaceutical Or Biotechnology both produces medicines but the difference between two are at one hand Pharmaceutical companies produces medicines that is based on chemicals on other hand companies under Biotechnology produces medicines that are based on living organism.
Pharmaceutical Like IT boom in Silicon Valley in recent times, biotechnological companies have mushroomed across globe. The air of most of these companies is to create breakthrough drugs. Medical biotechnology alone has become a $ 150 billion year business. At the same time Pharmaceutical products normally takes years on years in R&D phase before it is being launched in the market. There are already many established companies operating in market apart from many new startups taking plunge. As per the report of IBEF, India is the largest generic drugs supplier globally. India accounts to supply over 50% of total global pharmaceutical demand for various vaccines, 40 per cent of generic demand in the US and 25 per cent of all medicine in UK. The country also has a large pool of scientists and engineers who have the potential to steer the industry ahead to an even higher level. Presently over 80% of the antiretroviral drugs used globally to combat AIDS are supplied by Indian companies. The Department of Pharmaceuticals estimated to have creation of 5 lakh new jobs within next four years involving investment of ₹ 5,000-10,000 crore through public-private partnership model.
Biotechnology is today playing key role in making our lives better. This area focuses on the intersection of biology and technology, leading to a vast array of new products that are designed to enrich lives, make day-to-day living easier, and make us healthier. Its dominance contribution right from vaccine production to genetic medication makes it most progressive and beneficial scientific advances of the last quarter century. As a result, the career in biotechnology is quite promising.
The utility of biotechnology is spread across large no. of industries which includes but not limited to pharmaceutical, bio-products, chemical, medicine, food, nutrition, animal sciences and environmental conservation and these all creates huge employment opportunities.
Pharma & Biotech industry is one of the high paying industry the job opportunities of whose are immense. Because of the technological advancement of industry .
Pharma & Biotech industries usually employ pharmacy graduates and post-graduates for most of its operations. The activities of industry include manufacturing, quality control (including quality assurance), and distribution (marketing). The expertise required to perform all these activities are usually the course program of Pharmaceutical Sciences or Pharmaceutical Technology. Pharma being high knowledge based industry; special skills are required for all these operations or activities.