Associate Strategic Pricing & Contracting Director

About the Department 

The Finance & Operations department brings insights and intelligence to inform decision making & drives digitalization and business solutions to attain NNI goals. Finance & Operations works closely across the organization to guide enterprise-wide resource allocations, investment choices, drive core operations and develop insights to drive growth and operational excellence across the value chain while innovating for future capabilities. Our focus on innovation ensures we're constantly building future capabilities. We're responsible for regulating accounting, upholding workplace safety, managing our supply chain and sampling, supporting technological and data innovation, maintaining our facilities and assuring the integrity and completeness of all business transactions. At Novo Nordisk, you will have the opportunity to build a career in a global business environment. We encourage our employees to make the most of their talent, and we reward hard work and dedication with opportunities for continuous learning and personal development. Are you ready to maximize your potential with us?

The Position

Manages the entire pre-deal evaluation to contract development, negotiation (Deal to Contract) process for assigned channels and accounts which include Non-Retail (Veterans Administration (VA), Department of Defense (DoD), Kaiser, institutions, GPOs) and other area/regional accounts. Acts as PCOR Account Lead responsible for leading company response from Deal to Contract (includes pre-deal assessment/analysis, development of business cases for Pricing Committee, offer development, contract development, negotiation, pre-deal forecasting and reporting of contract profitability of customer segments for all Novo Nordisk products (diabetes, obesity, MASH, and rare disease products). Responsible for portfolio of accounts representing multi-billion dollars, which continue to grow in size and complexity.

The individual will be responsible for leveraging data from multiple sources to understand business complexities to develop the positioning and pricing of Novo Nordisk products. Works closely with Market Access account teams to secure access for NN products at a profitable and sustainable price point. Presents recommendations to Pre-Pricing Committee and Pricing Committee and ensures intent of the deal is captured in the contract terms and conditions ultimately negotiated with assigned accounts.

Relationships

Reports to the Executive Director/Director on the Strategic Pricing and Contracting team. Works closely with senior level partners in field Account Management across channels (Institutional, Rare Disease, and Area Accounts) and all therapeutic areas (Diabetes, Obesity, MASH and Rare Disease), as well as with internal stakeholders (Government Contracts & Compliance, Rebate Operations and Insights, Market Access Strategy, Legal, and others). Works directly with contracted customers at leadership levels. Provides mentoring and learning opportunities for Account teams and PCOR colleagues.

Essential Functions

• Pre-Deal
• Contributes to continuous improvement and accuracy of the pre-deal modelling to drive and inform data driven decisions from Pricing Committee. Incorporates learnings from prior deals into forward looking recommendations along with account-based forecast. Through deal models gains advanced understanding of pricing sensitivity by product, by payer and accountable for pre-deal forecasts around volume, market share, net sales at the account level. Advanced understanding of customer economics and key factors impacting customer decision-making around deals. High level of account team engagement required and ability to craft offers sufficient to secure access within Pricing Committee mandate while protecting company financials
• Implements the company’s Net Pricing Strategy (Contracting Strategy) and determines optimal net prices (via rebates/discounts/price concessions) to NNI contracted customers to secure/maintain sustainable formulary access while meeting the profitability/net sales targets for the company
• Oversees preparation of all Pricing Committee business cases and financial analysis for aligned accounts. Owns the deal evaluation process and offer development for aligned accounts – provides negotiating mandate to the Market Access account teams. Presents at Pricing Committee and Pre-PC for aligned accounts/channels and leads review of business case and financial impact scenarios. Ensures appropriate stakeholder alignment around business cases and ensures that business cases are rigorous and independently represent best understanding of both qualitative and quantitative factors to inform PC decision. Ensures accuracy of offers, pricing terms, and timely submission of contracts to customers
• Provides regular updates for Brand Teams and Senior Management on contract performance issues, including over- and under-performing contracts
• Analyzes the impact on pricing decisions on ARP/profitability
• Owns the financial assessment of aligned accounts
• Leads collaboration meetings with Strategy team, where SPC and Market Access Strategy align on requests for information, scenario modelling and other ad hoc analysis
• Provides peer guidance on approach for payer modeling to other SPC Leadership Team members, and acts as back up support for Executive Director/Director of SPC
• Contract Development
• Responsible for authoring contract templates for legal review and approval. Owns contract development process for aligned accounts - drafts, develops, and negotiates contract language with contracted customers. Assures contract terms, language, definitions, characterizations, and categorizations are consistent with NNI Contracting Strategy and reflect the intent of the deal while fully compliant with all legal and regulatory guidelines (in collaboration with legal counsel). Develops solutions which mitigate NNI’s risk while ensuring NNI can maintain market access via contracting for formulary position. Apprises senior leadership of key risks of major contracts. Successful contract negotiation is vital to achieving NNI’s Market Access goals and timing of contract execution is critical path for field team’s pull through efforts
• Proactively seeks buy-in from key stakeholders and engages in continuous communication regarding deal to contract status
• Sits on a cross-functional/cross-department team that serves to improve the ability of the Strategic Pricing team to make better, more accurate and faster decisions

• Contract Development
• Responsible for development and execution of Value Based Contracting (VBCs) supporting new innovative contracting pilots. Responsible for working closely with Market Access Innovation team on VBC structure
• Collaborates with other groups within PCOR and across other internal NNI groups to ensure proper pricing and product information is being used
• Supports business and analytical expertise in the development of tools and methods that will result in more accurate customer profitability assessment and decision-making
• Trains and mentors new team members in the areas of systems, processes, analytic models and presentations
• Works with Pricing Insights to compile, communicate and forecast all contracting events for aligned accounts impacting the company forecast (rebate and volume)
• Identifies opportunities and makes recommendations for optimal performance, processes, and compliance improvement across entire contract management continuum
• Leads with excellent communication and interpersonal skills and demonstrates effectiveness at working with internal and external stakeholders

Physical Requirements

0-10% overnight travel required.

This position is onsite in Plainsboro, NJ

Qualifications

• A Bachelor’s degree required; relevant experience may be substituted for degree, when appropriate
• A minimum of 8 years relevant experience in the areas of pricing, contracting, forecasting, financial modelling, and payer landscape required. Pharmaceutical experience preferred
• Ability to manage multiple projects, collaborating with all stakeholders at all levels of the organization to analyze, develop and execute strategies and tactics that best achieve goals withing deadlines
• Advanced proficiency in Microsoft Excel, PowerPoint and other key platforms
• Ability to communicate and present to executive audiences in a clear, confident manner
• Ability to interact and manage multiple internal relationships at all levels of the business
• Demonstrated leadership skills
• Solid understanding of pharmaceutical contracting, distribution channels, and products (understanding of therapeutic areas, drug administration)

Novo Nordisk is currently in the process of adjusting job titles globally. Please note that the job title listed in this advertisement may be subject to change. More detailed information will be provided during the recruitment process.

The base compensation range for this position is $148,290 to $259,510. Base compensation is determined based on a number of factors. This position is also eligible for a company bonus based on individual and company performance. 

Novo Nordisk offers long-term incentive compensation and or company vehicles depending on the position's level or other company factors. 

Employees are also eligible to participate in Company employee benefit programs including medical, dental and vision coverage; life insurance; disability insurance; 401(k) savings plan; flexible spending accounts; employee assistance program; tuition reimbursement program; and voluntary benefits such as group legal, critical illness, identity theft protection, pet insurance and auto/home insurance. The Company also offers time off pursuant to its sick time policy, flex-able vacation policy, and parental leave policy.

We commit to an inclusive recruitment process and equality of opportunity for all our job applicants.

We’re not your typical healthcare company. In a modern world of quick fixes, we focus on solutions to defeat serious chronic diseases and promote long-term health. Our unordinary mindset is at the heart of everything we do. We seek out new ideas and put people first as we push the boundaries of science, make healthcare more accessible, and treat, prevent, and even cure diseases that affect millions of lives. Because it takes an unordinary approach to drive real, lasting change in health.

Novo Nordisk is an equal opportunity employer. Qualified applicants will receive consideration for employment without regard to race, ethnicity, color, religion, sex, gender identity, sexual orientation, national origin, disability, protected veteran status or any other characteristic protected by local, state or federal laws, rules or regulations.

If you are interested in applying to Novo Nordisk and need special assistance or an accommodation to apply, please call us at 1-855-411-5290. This contact is for accommodation requests only and cannot be used to inquire about the status of applications.