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- Plainsboro Township, NJ 08536
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ASSOCIATE DIRECTOR - MARKET ACCESS - PRICING & CONTRACTING STRATEGY
Novo Nordisk • Plainsboro Township, NJ
Posted 28 days ago
Title ASSOCIATE DIRECTOR - MARKET ACCESS - PRICING & CONTRACTING STRATEGY
Job Category Market Access
Job Description Purpose
* Develops and executes the pricing and contracting strategy for a key Novo Nordisk product category. Collaborates with internal and external stakeholders to leverage and implement knowledge of reimbursement, managed care and healthcare policy to develop execution strategies and processes to ensure attainment of market access business objectives. Responsible for both inline and pipeline/launch products for aligned therapeutic / franchise area(s).
• Reports to the Senior Director of Value Communication and Contracting Strategy.
• Interacts frequently in collaboration with internal management and senior level managed markets customer representatives.
• Interacts internally with team representatives from PCOR & Finance, Brands, Medical Affairs, HEOR, Commercial Pipeline, Field Sales, Account Management, Analytics, Investor Relations, Value Communication and Contracting Strategy colleagues across all franchises, and all others, including global colleagues/counterparts, on a routine basis.
• Ensures strong collaboration across functions to optimize profitable access and provides timely communication of insights to all relevant partners.
• Close relationships with Global Market Access, the Global Project Teams (GPT) and Core Commercialization Teams (CCT) for launch brands are required.
• External relationships include interactions with key managed markets payers (potentially including but not limited to payers, PBMs, employers, and organized customer groups), associations, key opinion leaders (KOLs), government executives, vendors and consultants.
• Develops the list price strategy for inline products and oversees its tactical execution.
• Leads pricing and contracting strategy, playbook, and guideline development for all new product launches within responsible therapeutic area, with direct implications for account team planning and implementation. Entails coordinating market research and development of access and ARP scenarios to ensure launch readiness.
• Works with New Product Commercialization, Marketing and Global Market Access to develop pricing scenarios and strategy for all pipeline products starting in Phase II clinical trials.
• Leads assessment of investments in payer contracts and patient copay programs, and provides strategic guidance on how to balance these investments across the franchise.
• Leads the optimization of the contracting strategy and roadmap development for the Commercial, Part D and non-retail segments.
• May be responsible for ensuring newly developed pricing and contracting strategies get communicated well in advance of implementation to PCOR and Finance.
• Monitors US list price and contracting environment for pharmaceutical products.
• Develops pricing strategy consistent with customer and market indicators and overall portfolio strategy with the aim to increase long-term market share growth.
• Leverages understanding of the competitive landscape to anticipate and pre-empt future competitor moves by developing innovative strategies and tactics.
• Works closely with Strategy & Portfolio Innovation on how to design and implement innovative contracting concepts.
• Leads the development of key payer engagement tools, programs, and execution plans that will drive long-term profitable relationships with key accounts and the managed markets overall.
• Liaises with PCOR to monitor the existing deals - comparing actual results against projected KPIs and developing a contingency plan to bridge any gap.
• Collaborates with Value Communication partners to ensure that access strategies are aligned with portfolio/brand segment positioning and messaging, and with Novo Nordisk’s long-term goals.
• Works collaboratively with Contracting Strategy colleagues, Value Communications, Strategy & Portfolio Innovation, PCOR, Brands, Health Economics, Medical Affairs, Account Executives, Analytics, and Global Pricing to develop and implement a strategic and tactical approach for pricing and payer contracting.
• Leads the analysis of the impact on pricing decisions/ recommendations on Average Realized Price/profitability
• Leads and takes ownership of market research as it relates to specific payer / reimbursement issues impacting Novo Nordisk profitability of franchise area
• Leads the yearly review of current pricing strategies and owns the process for developing recommendations for the next calendar year. Including preparing for NNI’s latest estimate, mid-term and long-term strategic planning by providing future access and ARP/rebate guidance and potential financial implications
• Proactively drives price sensitivity/price elasticity studies for new and in-line products with resultant break-even elasticity
• Participates directly in key customer meetings, as appropriate.
• Develops content for Pricing Committee meetings, as appropriate.
• Develops and maintains relationships with key customer executives.
• Develops and oversees implementation of key metrics. Regularly reviews current program progress to accomplish goals.
• Adheres to administrative policies and procedures and encourages others to do the same.
• Contributes to practices that attract and retain the best people.
Additional Information Physical Requirements
• 10-20% overnight travel required
Development of People
• Not Applicable
• A Bachelor's Degree in Business or equivalent experience. MBA or another advanced degree required. Relevant experience may be substituted for degree, when appropriate.
• A minimum of ten (10) years of experience in any of the following areas: pricing, contracting, managed markets strategy, or value communication within payer marketing, national account management, consulting, and/ or market access strategy.
• A minimum of five (5) years of experience in the pharmaceutical industry.
• A minimum of two (2) years of leadership experience.
• A minimum of two (2) years of experience in managed markets analytics, financial modeling of pricing and contracting scenarios and strategies for inline and pipeline therapies, or FP&A related to pricing and managed markets.
• Strong understanding of the US payer environment, payer market dynamics, payer marketing principles and how market access organizations make decisions across private & public channels.
• Have strong interpersonal; communication; analytical and project management skills.
• Ability to translate strategies into measurable tactical programs that have high ROI.
• Requires leadership skills with the ability to develop and communicate a vision and engage people in that vision.
• Ability to access and influence various functional areas and motivate groups to action without direct line management responsibility.
Department MA - STRATEGY & INNOVATION (2)
Position Location US - Plainsboro, NJ
State/Provinces US - NJ
Job/Position Country US
At Novo Nordisk, we know that driving change on a global level and improving treatment outcomes for people with diabetes and other chronic diseases begins here at home. That's why we make an unmatched commitment to our employees, our families and our communities. That means outstanding rewards, industry-leading training programs, and an environment that supports you to achieve your goals at every level. It's all part of the Novo Nordisk Way. It includes our Vision and our commitment to the Triple Bottom Line principle – helping us find the right balance between compassion and competitiveness
With a career at Novo Nordisk, you’ll feel a difference right from the start. It’s a sense of inspiration and mobility that comes from a shared belief in driving positive change for people, families, and communities everywhere. Congratulations on taking your first step!
Novo Nordisk is committed to equal employment opportunity and providing reasonable accommodations to applicants with physical and/or mental disabilities. We value and encourage diversity and solicit applications from all qualified applicants without regard to race, color, gender, sex, age, religion, creed, national origin, ancestry, citizenship, marital status, physical or mental disability, medical condition, veteran status, genetic information, or any other characteristic protected by federal, state, or local law.
Novo Nordisk will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor’s legal duty to furnish information.
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