To make my degree worthwhile...

[daysinnnc]

Advertisement - Members don't see this ad

To make my degree worthwhile i would like to start a pharmacutical company after i get my pharmD..
Is that a good idea? how much money does it take to start a business like that..

 

[mattc_85]

I can think of other ways to make my degree worthwhile. Maybe you should get a PhD instead. I have no idea how you would start a pharmaceutical company, I do know it would take a lot of money and you would need some good research to back it up.

 

[firefighter9015]

I can think of other ways to make my degree worthwhile. Maybe you should get a PhD instead. I have no idea how you would start a pharmaceutical company, I do know it would take a lot of money and you would need some good research to back it up.

I second that. If this is something you want to do, I would do some research and see if any of your professors has start up companies that they are involved in. I know several of ours did and you can find out how to go about it. I would believe that you may need a PhD to be able to get that kind of research. All of our professors who have start up companies are PhD and affilfated with a large academic center (so they have acess to money).

 

[b*rizzle]

In addition to doing your research, I'd suggest looking into industry rotations for your last year of pharmacy school in order to get a better perspective. You may not be able to start up straight out of pharmacy school, so maybe look into working for someone else's company first and get a little first-hand perspective too.

 

[Hels2007]

What kind of a pharmaceutical company? Research or manufacturing? You are looking at $50 million at least either way. Not something you can do right out of school, period.

 

[mike36]

We just had a lecture on opening a compounding pharmacy. We were told that it would only take 200,000 to open up one. This is one route to go to make your degree worthwhile. (I'm not sure what you mean by that...)

 

[Rumplestiltazepam]

To make my degree worthwhile i would like to start a pharmacutical company after i get my pharmD..
Is that a good idea? how much money does it take to start a business like that..

Maybe you could get a small business loan and buy Pfizer.

 

[YapYap6]

Pharmaceutical distribution (like Cardinal) or actual R&D + manufacturing? Good luck competing with those mega corporations that spend billions in R&D or competing with huge distributors like Cardinal that have huge bargaining powers with drug manufacturers. Not to mention the tens of millions of dollars you would need and the possibility of spending most of your money researching a drug that ultimately fails.

Starting your own pharmacy, on the other hand, is much more plausible.

 

[daysinnnc]

then i dont see why people say, this pharmacy career has many opportunities..
i don't see any.. all them require different things..
How successful are you gonna be opening up own pharmacy where there is walmart and walgreens.

 

[dienophile]

then i dont see why people say, this pharmacy career has many opportunities..
i don't see any.. all them require different things..
How successful are you gonna be opening up own pharmacy where there is walmart and walgreens.

DO NOT FEED.

 

[collegegirl247]

To make my degree worthwhile i would like to start a pharmacutical company after i get my pharmD..
Is that a good idea? how much money does it take to start a business like that..

what do you men "make my degree worthwhile??" do you mean make the most money? or do the most good? (as in the greater good for humanity)

 

[RxWildcat]

DO NOT FEED.

exactly

Pharmacy has a ton of opportunities. Search these forums and you'll find plenty of career paths.

 

[daysinnnc]

well i wanna make good money and wanna do something bid..you know what i mean...

RxWildcat, why don't you find me a like for different paths

 

[dienophile]

well i wanna make good money and wanna do something bid..you know what i mean...

RxWildcat, why don't you find me a like for different paths

You can make good money as a pharmacist, and there are lots of things that you can do twice a day. I'll let RxWildcat answer his question, if he can decode it.

 

[medicalCPA]

well i wanna make good money and wanna do something bid..you know what i mean...

RxWildcat, why don't you find me a like for different paths

Do you mean "link"? Have you read the Pfizer Guide to Careers in Pharmacy?

 

[fenixtnlfan]

then i dont see why people say, this pharmacy career has many opportunities..
i don't see any.. all them require different things..
How successful are you gonna be opening up own pharmacy where there is walmart and walgreens.

Of course all these pharmacy careers require different things, or else we would all be doing the same thing. That's how it works in all walks of life. You pick an area you are interested in, and specialize.

You can be successful in opening your own pharmacy if you find a niche (such as compounding), market yourself right, and open it in a good market. It would definitely take a lot of work though! And money. Same thing if you wanted to open a pharmaceutical company. It's possible to be successful in those areas, but the probability is not likely.

 

[collegegirl247]

options in pharmacy...just about endless- all of which will make good money!!!

Specific practice sites and specialties:
Academia
Army
Clinical Pharmacy
Clinical Research ... more
Community Pharmacy (Chain)
Community Pharmacy (Independent)
Compounding
Critical Care
Consultant
Distribution
Drug Information ... more
Geriatrics
Home Care
Hospice
Hospital (Overview)
Hospital (Staff)
Industry
Infectious Disease
Informatics
Intensive Care
Long Term Care
Managed Care
Nuclear Pharmacy ... more
Nutrition Support
Oncology... more
Operating Room
Pediatric Oncology
Pediatrics
Pharmacology
Pharmacotherapy
Pharmacy Benefit Management
Poison Control
Primary Care
Psychiatric Pharmacy
Senior Care
Public Health Service ... more
Public Health Services Commissioned Corps
Regulatory
Veterinary
Transplantation (Organ)

 

[daysinnnc]

Any of you doing any of the specialty that collegegirl247 posted??

 

[SpirivaSunrise]

Any of you doing any of the specialty that collegegirl247 posted??

Of course!

 

[njac]

Any of you doing any of the specialty that collegegirl247 posted??

one thing you have to remember is that this is the STUDENT Doctor network. 90% of us are students.

many of us do have plans to work in the specialties listed but none of are fortunetellers either.

To learn the ins and outs of a specialty you'd do best to find one in your neck of the woods and talk to /shadow them.

 

[Farmercyst]

Just for kicks, google "Ed Lieskovan". He's a PharmD from USC. I never realized how many businesses he's gotten into. He teaches our Pharmacy Calcs course in 1st year.

I'm not sure how he started it all, but it looks like you're wanting to go that direction.

 

[daysinnnc]

i guess opening up my own pharmaceutical industry is a bad idea

 

[Rumplestiltazepam]

i guess opening up my own pharmaceutical industry is a bad idea

Impractical is a better word. But, hey lots of wealthy people are wealthy because they attempted what others said was impractical.

 

[daysinnnc]

well said..

 

[GatorRxGirl]

Sorry your hopes and dreams were shattered via SDN.

 

[janeno]

options in pharmacy...just about endless- all of which will make good money!!!

Specific practice sites and specialties:
Academia
Army
Clinical Pharmacy
Clinical Research ... more
Community Pharmacy (Chain)
Community Pharmacy (Independent)
Compounding
Critical Care
Consultant
Distribution
Drug Information ... more
Geriatrics
Home Care
Hospice
Hospital (Overview)
Hospital (Staff)
Industry
Infectious Disease
Informatics
Intensive Care
Long Term Care
Managed Care
Nuclear Pharmacy ... more
Nutrition Support
Oncology... more
Operating Room
Pediatric Oncology
Pediatrics
Pharmacology
Pharmacotherapy
Pharmacy Benefit Management
Poison Control
Primary Care
Psychiatric Pharmacy
Senior Care
Public Health Service ... more
Public Health Services Commissioned Corps
Regulatory
Veterinary
Transplantation (Organ)

This is very impressive list, we should make it as sticky so people would know what is available out there.

 

[Pianopooh]

To make my degree worthwhile i would like to start a pharmacutical company after i get my pharmD..
Is that a good idea? how much money does it take to start a business like that..

Why don't you earn a pharmD, and open up a pharmacy in a small town? Most small towns doesn't seem to have a retail pharmacy. My friend's father have a pharmacy in her town in upstate NY. It's a lot of work though, I don't know how much time you want to devote in your own business... if one pharmacy is tough to deal with, imagine a whole industry.

 

[RxWildcat]

To make my degree worthwhile i would like to start a pharmacutical company after i get my pharmD..
Is that a good idea? how much money does it take to start a business like that..

Judging from his other threads, I'm pretty sure that the OP was referring to opening his own pharmacy. There are plenty of threads about independent pharmacies if you do a search, daysinnc.