You will be redirected to TheLadders.comJob DescriptionRequisition ID 6398BR
Title Director - Strategic Pricing
Job Category Finance
Job Description PURPOSE:
Develops and implements Best in Class list and net pricing strategies for Diabetes and BioPharmaceuticals new and in-line products in order to optimize profitability. Works on Corporate wide strategies that set direction for NNI and ensures both long and short term profitability. Ensures net pricing strategies are implemented to attain corporate profitability metrics. Develops best in class decision support processes to ensure accurate Channel level sales and rebate forecasts. Owns the strategic and tactical planning process of the U.S. Strategic Pricing Group. Is directly accountable for the development of contract price strategies and implementation for all business segments. Directs the distribution and management of the Strategic Pricing budgets. Directs the development and implementation of necessary programs and initiatives to ensure that all NNI Pricing and contracting policies are congruent with all Federal, State and NNAS pricing policies, regulations and mandates.
RELATIONSHIPS:
Reports to the Senior Director, Pricing & Contract Operations (PCOR). Responsible for two distinct Teams including Strategic Pricing/Pricing Analytics & Offer Development. Direct reports include: Sr. Mgr., Strategic Pricing and 5 Offer Development Managers/Sr. Analysts. Works closely with: Managed Markets Strategy Directors, Managed Markets Sales Directors, Pricing Committee, MMS Account Directors, Brand Marketing, Government Pricing and Contract Operations (Institutional and Rebates), Global Pricing & Market Access; Financial Planning & Analysis (FP&A) and Commercial Effectiveness. External relationships include: customers, professional associations, vendors, and consultants.
ESSENTIAL FUNCTIONS:
• Develops list and net pricing recommendations in collaboration with Managed Markets and Brand Marketing and presents to the Sr. Director, PCOR and Pricing Committee to optimize business opportunity; develops, monitors and implements pricing strategies for all NNI in-line products to increase sales and profitability.
• Accountable for ensuring management of list price for all NNI in-line products which maximizes value of NNI products over lifecycle.
• Drives pricing & modeling analysis for all account-level pre-deal analysis. Owns the financial analysis process to support all offers made to Customers. Ensures all business cases that go before Pricing Committee undergo rigorous analysis.
• Ensures all Pricing processes and procedures are compliant with Sarbanes Oxley.
• Has accountability for monitoring and reporting contract performance that is used to inform pricing & contracting strategy. Monitors competitive pricing information and the impact of other environmental factors that affect pricing decisions and strategies.
• Partners with Managed Markets Strategy to develop and execute channel specific strategies relating to contract pricing (e.g., offers/guidelines)
• Key role in setting profitability targets for the organization and implementing strategies and tactics to obtain results agreed upon results.
• Manages the Pricing Analytics function including the activities directly related to organizational metric development, methods for measuring business performance, and rebate forecast development
• Manages the Offer Development Team including process and assessment of offers for all customer segments including Managed Care, Medicare Part D, LTC, Medicaid, Institutions and the Federal Channel
• Oversees the analysis of the impact on pricing decisions/ recommendations on Avg. Realized Price/profitability. Presents pricing rationale around business case to Senior Management based on analysis.
• Proactively drives price sensitivity/price elasticity studies for new and in-line products with resultant break-even elasticity results presented to Pricing/Brand/Executive management.
• Accountable for ensuring new deals have been assessed for potential impact to Government Pricing and Operational teams (Institutional Contracts & Rebate Management).
• Responsible for the review and approval of all pricing language/grids in all contracts to ensure compliance to Sarbanes Oxley regulations.
• Reviews all contract proposals and makes recommendations based on approved pricing guidelines and profitability metrics based on the financial viability of the contract and the business situation. If outside of guidelines, assists in the development and presentation of financial analysis and recommendations to Pricing Committee for approval/rejection of proposals outside of guidelines. Responsible for quality control around all business cases which go before Pricing Committee
• Works with Brand Management and Channel Directors to optimize pricing and profitability, set launch pricing and perform pricing maintenance functions for all in-line brands.
• Works with New Product Commercialization, Diabetes and BioPharm Marketing and Global Market Access to develop pricing scenarios for all pipeline products starting in Phase II Clinical trials. Reviews and adjusts pricing strategies at key milestones. Conducts payer research to support recommendation around launch price.
• Communicates with Global Pricing & Market Access in Denmark, as needed, apprising them of US pricing strategies, pricing guidelines and contract strategies for all channels.
• Responsible for oversight of Novo Nordisk Canada pricing to ensure profitable access for NNCI products (collaborates closely with Novo Nordisk pricing team in Canada to understand impact of list price actions and pricing offers on ARP, volume)
PHYSICAL REQUIREMENTS:
• Approximately 20% overnight travel
DEVELOPMENT OF PEOPLE:
• Ensure that reporting personnel have 3P and IDP forms with annual objectives and key performance metrics that are consistent with the priorities of the business, that interim reviews are held so that effort is focused on those priorities, and they understand their level of accountability for results and the measurement process.
• Ensure that the IDP include completed Learning and Development plans and are in place for all reporting personnel to enable the achievement of goals and capability to assume increased levels of responsibility.
• Manage the application and communication of all Novo Nordisk policies, procedures, and Novo Nordisk Way of Management.
KEY SUCCESS FACTORS: EDUCATION, EXPERIENCE, KNOWLEDGE AND SKILLS
• A bachelor’s degree or equivalent experience, MBA preferred
• A minimum of 10 years progressive experience in strategic pricing (list and net pricing), reimbursement, managed markets contract development in the pharmaceutical industry.
• Advanced knowledge and experience in using pricing models, understanding of pharmaceutical pricing strategies used in all channels, commercial and government.
• Advanced knowledge of U.S Payer marketplace (particularly around channel dynamics in Commercial, Medicare Part D, Institutional, Medicaid and Government), Healthcare Reform impacts on Pricing & Contracting, and US Distribution.
• Outstanding communication and negotiation skills
• Prior management experience preferred.
• Proven track record of results.
• Prior experience in working with Global Pricing.
Department FIN - STRATEGIC PRICING
Position Location US - Princeton, NJ
City Princeton
State/Provinces US - NJ
Degree Required Bachelor's Degree Required
Percent Travel 20 - 30%
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