Tim Oldham could see the biotechnology boom coming as he completed his combined science/law degree at the ANU in the early 1990s.

The genomics revolution was in its early stages, with the Human Genome Project under way. Scientists were unlocking the secrets of disease at the molecular level, and developing new pharmaceuticals through "rational drug design".

With a background in both chemistry and law - a legacy adolescent indecision on career directions - Oldham was in a position to ride the biotechnology wave.

"As I got through both degrees, I started to realise the impact biotechnology was going to have," he says. "I was thinking of doing something that helped make that happen. It was to me going to be an important thing to do."

He is now a corporate vice-president and president, Asia-Pacific of healthcare giant Hospira, a world leader in the manufacture and supply of specialty injectable drugs and medication management systems - devices and technology for administering drugs safely and efficiently. Hospira is the largest supplier of generic injectable drugs, primarily to hospitals, with sales into more than 60 markets around the world. It is also a leading player in the emerging field of generic biopharmaceuticals.

Oldham won the ANU University Medal for chemistry in 1992 after excelling in a study program focused on physical chemistry. The following year, he won the University Medal for law. A Commonwealth Scholarship took him to the University of London in 1994, where he undertook a PhD. His thesis was on photodynamic therapy - using light activated drugs in the treatment of infections and cancer.

"An academic career was something I was never going to do," says Oldham, who was a first grade rugby player while at the ANU. "I was more interested in the applied sciences. And by the time I'd been a student for 10 years, I didn't feel like another few years doing an MBA."

He took up a position in global management consulting firm McKinsey & Company, describing the job as "an alternative MBA".

In 2002, he was hired by Australian-based generic drug manufacturer Mayne Pharma, recently acquired by Hospira, starting out as the global projects manager responsible for the commercialisation of generic biopharmaceuticals. Spending four of the next five years in Europe, he was involved in a significant expansion of Mayne Pharma's business there, including launching the then largest oncology product ever to become generic, entering Spain through acquisition, and licensing Mayne Pharma's first generic biopharmaceuticals from Pliva in Croatia. As Chair of a committee of the European Generic Medicines Association, he was heavily involved in the creation of regulatory pathways for generic biopharmaceuticals in Europe.

In his current role within Hospira, he is guiding the company into Japanese, Chinese and Korean markets.

Oldham says his education in both chemistry and law have been central to his career. An understanding of the technical problems in getting a new drug from the benchtop to the market - a process that can take 10 years - is critical to good corporate strategy.

"The deeper the technical expertise of your executive team, the better," he says. "My chemistry background helps me work with everyone, from our customers and marketing teams to our suppliers and R&D teams, to solve problems," he adds. "It also means I can engage with regulatory authorities. Understanding the arguments the patent lawyers are raising has also helped."

He says scientists, especially those with qualifications in business management, are in high demand in executive roles within the pharmaceuticals industry. "Plenty of people trained as scientists jump the fence into more commercial roles."

Oldham is now positioning Hospira's Asian operations for a change of emphasis from generic to proprietary drugs, currently accounting for 15 to 20 per cent of sales, and a greater use of Hospira's US medication management systems in the region. These reduce medication errors, improve the workflow and productivity of healthcare professionals and enhance patient and caregiver safety, he says.

He predicts the biggest growth areas for jobs in biotechnology will be development of diagnostics for genetic disease, therapies for diseases of age and lifestyle (especially cancer and diabetes) and in technologies responding to the challenges of global warming, including biofuels, more efficient food production; and solar energy harvesting.