I agree with what some posters have already suggested here.
I did a lot of medicinal chemistry for my PhD project: 2 years of dedicated synthesis followed by 1.5-2 years of mechanism of action, in vitro, in vivo, modeling, and enzyme assay work. Technically, my PhD was in Physiology and Pharmacology with a sub-focus in Chemical Biology (although the school had no idea what to call my degree, and I ultimately got a diploma that just says "PhD"). Even if your interest is firmly planted in chemistry, I would really suggest dabbling in biology as well. There are very, very few MD/PhD scientists who are competent in both biology and chemistry. This has come up at nearly every conference I have attended, netted me random job offers, and allowed me to be a translator between those labs making drugs and those using biology to optimize them.
Furthermore, if you work in drug development it can be extremely translational and you are set up for any number of research jobs in the future (including running clinical trials if you decide to take a more clinical path).