Pharma hiring to remain conservative despite pace in vaccine development: Study

Mumbai: The Indian pharma sector is expected to remain muted with its headcount additions, irrespective of the pace in vaccine development, according to a study by executive search firm Xpheno.The top 25 pharma brands by size have a total active job openings count of about 4,500 jobs globally and only 6% of these active openings are currently open in India, according to the study on human capital and job information. The data collected for the study is from top job boards, company career pages, and official company pages on social media.Stagnation - if not reduction in net addition figures - should be expected for the year ending March 2021, because core pharma functions of research, product development and manufacturing are already built for scale and spike, the study suggested.“Support functions in the pharma space are typically optimised and hence are not expected to shed headcounts or have short-term spike in additions,” said Kamal Karanth, co-founder, Xpheno. The impact of a vaccine release would be largely visible at the logistics and sales end of the pharma sector.Short-term reduction of headcounts in marketing and sales by some brands would be reversed once the sales machinery kicks in on new competitive vaccines, said Karanth.

from Economic Times https://ift.tt/2JovIXX