Drug firms amp up hiring for top roles as growth beckons

West's diversification out of China, upcoming change of law in US set stage for growth

- Jessica Jani & Devina Sengupta

India's drugmakers ramped up C-suite hiring in 2024 to support expansion plans amid favorable global business tailwinds, multiple industry executives said.

Search firms and companies confirmed increased hiring of chief technology officers (CTOs), chief financial officers (CFOs), chief human resources officers (CHROs), regulatory officers, as well as business leaders for emerging and regulated markets.

"Indian firms are creating more entrepreneurial, scale-driven opportunities. For a candidate willing to take a three-to five-year horizon, this becomes attractive given skin-in-the-game rewards like restricted stock units and Esops," Sachin Rajan, managing director at executive search and leadership advisory firm Russell Reynolds Associates said.

Large Indian companies want to differentiate themselves and pivot towards specialized portfolios, as well as focus on enterprise buyers such as hospital chains, and governments, Rajan said.

"This requires leadership both in commercial business units, sales and marketing functions, but also leaders who can enable pivots in functions like regulatory and medical," he said.