What the past two posters are missing is actual industry experience.
If you want to do drug-design TODAY, then the hot spots are those that specialize in Enzymology (A subsection of the vast Biochemistry). It is one of the most difficult things to study in science as it is highly mathematical based. It is the key to understanding intermediates, kinetics, turn-over, etc. for newly synthesized drugs.
What you probably do not know is the surplus of PhD's right now, which makes getting into a large Pharmaceutical company difficult. And trust me, there are more than enough PhD's doing Synthesis right now (Organic chem, analytical chem, etc.). What is lacking are people to determine whether those newly synthesized drugs actually work, whether they're harmful, what pathways (and more) do they interact with or affect...
Good luck. But then again, like I said before, there are non-traditional ways for individuals to go into drug-design and a PhD in ChemE is a possibility (you might have to do your post-doctorate in a Biochemistry lab). The reason is because the training is vastly different. Biological/Chemical Scientists actually work in the lab all the time.