BPharmaceutical companies research, develop, produce and sell chemical or biological substances for medical or veterinary use, including prescription, generic and OTC drugs; vitamins and nutritional supplements; drug delivery systems and diagnostic substances; and related products, equipment, and services, including distribution and wholesale. The pharmaceutical industry is one of the most profitable in the world — spending and earning billions of dollars. The last decade has seen companies merging with and acquiring other firms to fill their drug pipelines and expand sales forces.

Biotechnology companies engage in genomics and its related fields, particularly in the development and selling of drugs, therapeutic products, research equipment, and related research services. These employers develop drugs and products to treat HIV and other infections, Alzheimer’s disease, cancer and schizophrenia, to name a few.

Historically, biotechnology organizations have been much smaller than pharmaceutical companies in the number of employees and profitability. That has changed, however, in the last ten years as some firms have merged to form a stronger, science-based business. These companies work with three unique business challenges: how to finance highly risky investments in a financial world of uncertainty and long-time horizons for R&D; how to learn rapidly enough to keep pace with advances in drug science knowledge; and how to integrate capabilities across a broad spectrum of scientific and technological knowledge bases.

The kind of work performed in either industry will be exciting, challenging, and, in the end, a benefit to humanity. As you look at career options, things to consider in addition to the job and compensation include the company size, record of success, and work environment.