career choices for doc

Pharmaceutical & Biotechnology Industry
Broadly speaking the biotech/pharma industry can be separated into 'Big Pharma' and Biotech. Big pharma consists of the larger organizations e.g. Pfizer, Merck, and are typically commercial in nature with a global reach and a large number of employees. In contrast biotechnology companies vary in size from only a few employees to corporations that compare with the bigger pharma firms. The smaller biotechs and tend to operate from one main geographical base.
Big Pharma
Doctors in Big Pharma range from quite junior physicians to Nobel Prize winners commanding multi-million dollar salaries. Several roles exist for doctors, ranging from drug safety, regulatory affairs and project management, to medical advisors that act as an interface between the scientific and commercial arms of the company. Big Pharma offers the potential for career development and transferability; many doctors start on the research and development (R&D) or medical marketing side, before move in to roles such as business development (buying smaller companies, and building alliances with biotechnology) or to full commercial roles. Although there are opportunities for employment across the globe, some major companies are based in Switzerland (Roche, Novartis) whilst others reside in the United States. Irrespective of the location or profile of the company, the opportunities for career progression are substantial and varied. Some extremely successful pharmaceutical executives started their careers as medical doctors.
For doctors that are wishing to consider a return to the NHS following a period in the corporate environment, the pharmaceutical industry may offer a perfect compromise. Employment in a top tier pharma company allows an individual to return to clinical medicine armed with a broad skill set of research experience, general management and international culture. For those opting to remain on the corporate side, the industry offers a reputable launch platform for careers in healthcare consultancy, business development and venture capital/private equity.
As a doctor having worked in big pharma and then returning to the clinical 'fold', your management skills will be honed, your clinical knowledge up to the minute, and you will be able to add value to any NHS hospital or research institution. There is also the option to obtain additional qualifications such as the Diploma in Pharmaceutical Medicine (Dip Pharm Med), which is designed specifically for doctors employed in the Pharmaceutical Industry.
As a corporate physician with pharmaceuticals experience, there are a wide range of potential avenues and options that will harness this valuable combination, allowing you to make a significant impact to medicine on a global scale, and at a much more senior level then you could have ever imagined.
Biotech
Biotechnology companies range from small 'start-ups' to international giants such as Amgen and Genentech. Start-ups are hugely exciting places to work and tend towards the real cutting-edge of science and clinical development. They are not typically starting points for doctors straight out of medicine, as they are generally quite heavy on the R & D side and focused on extremely technical aspects of medical science. They are nonetheless, a potential second role following a period of time spent in a larger corporation, or for those seeking a more entrepreneurial experience.
A large number of biotech companies are located on the east and west coasts of North America. Salaries tend to be lower than those of Big Pharma, but the share options can, and often do, make individuals very wealthy. The spectrum of research, development and products is huge and encompasses many sub-sectors, with varying disease processes and conditions that are treated as a result of new developments and emerging technology.
With the emergence of gene therapy, stem cell research and important breakthroughs such as RNAi, the Biotech industry will undoubtedly continue to grow and maintain a requirement for motivated physicians that wish to combine their medical knowledge with an industry perspective in order to transfer theoretical products into practical clinical applications.
In summary, both Big Pharma and Biotech represent industries where clinical medical skills can be put to extremely good use and where doctors can flourish within a dynamic and exciting new career path. Training in pharma (e.g. an intercalated BSc in Pharmacology) is a useful addition for those doctors wishing to pursue this path, but it is by no means essential.