trebizondParticipantStatus: ResidentPosts: 136Joined: 12/31/2017
I’m in a fellowship where I will get significant training in clinical trial design and some of the hotter new therapies such as biologics and immunotherapy. I’m interested in the possibility of going into industry working at the level of basic and translational science for a pharmaceutical company. I do have a PhD and would have additional basic/translational science training during fellowship.
What kind of salary is feasible in industry starting out? What is the feasibility of breaking off and founding a new company and how many years of experience in the big company might be needed? How does one go about legally protecting ideas started and brought to fruition in a new venture from being claimed as somehow intellectual property of the prior company?October 6, 2018 at 8:59 am MST #155388ZaphodParticipantStatus: Physician, Small Business OwnerPosts: 6339Joined: 01/12/2016
Its very feasible. The trade off will be consistency in pay and job security and such. Your upside and downside will have more volatility and more types of outcomes. If you think this is what you want to do all you have to do is accept that and set up your expenses, etc…to withstand it and go for it.
You might want to find a biotech oriented forum and speak to a lawyer in the field when you’re thinking of going out on your own, you’d want to handle that very precisely. There may be a couple people around here that are familiar with some of the other details but I imagine other places have more.
Good luck, sounds awesome.October 6, 2018 at 9:30 am MST #155396BlueCollarMDParticipantStatus: PhysicianPosts: 19Joined: 08/20/2018
Your question encompasses many different things, and there is a wide world in Pharma that is available to you. Basic science can be good if you get lucky in biotech; otherwise the salary and competition will be with other PhDs and may not maximize your value as a fellowship trained physician. On the translational side you may be looking at setting up and running trials as a new hire but eventually you may be of greater value in determining clinical strategy, valuing acquisitions or other areas. Starting salaries will be less than clinical jobs with likely more travel. Depending on your specialty there may also be less work, night call etc. Longer term there is opportunity for equity upside. Go ahead and check it out now. Find people in the areas that interest you and ask to talk to them. I am sure you will get a warm welcome.