I'm an MD and have been working in pharma for 20+ years. Having an MD/PhD helps get you noticed. But its your research experience which will get you the job. Specialty training (fellowship) is probably even more important than the PhD. Most MDs have no idea what goes on inside a pharmaceutical company. Contrary to popular belief, the sales/marketing people don't run everything.
Some of the best cutting edge science happens within the labs of pharma companies. So we need the best physician-scientists. Not having your PhD won't affect you that much as long as you can demonstrate your interest in research. But getting the PhD will help you land the best residencies.
If you're more interested in clinical trials, then make a point of getting experience in your residency. Volunteer for the hospital IRB. Find a local research site and offer to help. Learn as much as you can about how clinical trials are designed and conducted.
