Requisition ID 14237BR
Title Analyst - Strategic Pricing
Job Category Finance
Job Description PURPOSE:
The purpose of this position is to support analytical input into the development and implementation of a worldclass pricing strategy. This includes contributions to deal development, new product pricing and strategic pricing projects, execution of list and net pricing strategies, and monitoring and evaluation of contract performance for all customer segments (e.g., Managed Care, Non-Federal Hospitals, Long-Term Care, Medicare Part D, Medicaid (FFS & MM), Exchanges and Federal), including Diabetes, Biopharmaceutical and hormone therapy products.
RELATIONSHIPS:
The position reports directly to a Senior Manager in Strategic Pricing with and provides analytical support to other Managers within Strategic Pricing. Provides periodic analytical analysis to the Director, Strategic Pricing. The position will interact with a number of internal stakeholders including Contract Management, Rebate Management, Commercial Effectiveness, Government Pricing, Managed Market Strategy and the Managed Market Sales Account Executives.
ESSENTIAL FUNCTIONS:
PROCESS & ANALYSIS
• Assists with developments and updates to Pricing SOPs in compliance with all applicable regulations.
• Assists with the notification of launch product prices, correct system updates, and special terms/dating.
• Assists with the yearly review of current pricing strategies and owns the process for developing recommendations for the next calendar year.
• Develops world-class data gathering process to capture competitive pricing and discounting.
• Supports business and analytical expertise in the development of tools and methods that will result in more accurate customer profitability assessment and decision-making.
• Supports contract profitability forecasting. Contributes to continuous improvement of methodologies by measuring forecast versus actual results and benchmarking against industry practices.
• Works with 3rd party pricing vendors, Master Data, Contracts Operations, Finance, Trade, and Pricing Services to implement and disseminate pricing changes.
STRATEGIC PRICING ANALYSIS
• Analyzes impact of pricing changes on Novo Nordisk® financial results, including impact on statutory pricing.
• Assists in the development of channel forecasts and customer segment valuation.
• Assists with the development of Pricing Committee business cases and financial analysis.
• Collaborates with other groups (within PCOR and across other internal NNI groups (e.g. – CE/FFE)) to ensure proper pricing and product information is being used.
• Contributes to scenario impact models on pricing and profitability within key channels.
• Develops presentations for Senior Management regarding contracting and pricing strategies.
• Develops pricing models to be used in the review of list and net pricing recommendations.
• Executes analysis of net contract sales, market share, and contract pricing for the U.S.
• On an ad hoc basis, develops reports that monitor and evaluate Managed Markets performance at customer and channel levels.
• Owns financial analysis quantifying the expected performance and profitability of retail and non-retail contracts for in-line products.
• Partners with the Senior Manager to execute global projects relating to analysis of net sales, market shares, and pricing in the U.S. market.
• Provides ad hoc analyses as required.
• Provides integrated analyses and insights for customers and other business groups (e.g., customer segment reports and trend reports for internal Finance, Sales and Marketing management).
• Provides new product launch teams with in-depth performance metrics and insights on top Managed Markets accounts.
• Supports Strategic Pricing managers with the development and implementation of Managed Markets Strategy through financial modeling for deal evaluation and creation of analytical deliverables.
• Works with Master Data to ensure the accuracy of this pricing information in the NNI systems.
PHYSICAL REQUIREMENTS:
0% to 5% overnight travel
DEVELOPMENT OF PEOPLE:
Not Applicable
KEY SUCCESS FACTORS: EDUCATION, EXPERIENCE, KNOWLEDGE AND SKILLS:
• A Bachelors degree preferred; relevant experience may be substituted for degree, when appropriate.
• A strong understanding of Microsoft Excel, Access, Visual Basic PowerPoint and other key platforms.
• Ability to collaborate with stakeholders to execute analysis in support of decision-making and planning.
• Ability to communicate with all levels of the organization.
• Ability to ensure quality and validity of data and resolve data problems as necessary.
• Ability to perform advanced analyses (analytical, quantitative, and qualitative) required.
• Requires a minimum of 4 years relevant experience in the areas of pricing, contracting, forecasting, and financial modeling. Pharmaceutical industry experience a plus.
• Strong attention to detail.
Department FIN - STRATEGIC PRICING (1)
Position Location US - Princeton, NJ
City Princeton
State/Provinces US - NJ
Degree Required Bachelor's Degree or equivalent experience
Percent Travel 0 - 10%
Title Analyst - Strategic Pricing
Job Category Finance
Job Description PURPOSE:
The purpose of this position is to support analytical input into the development and implementation of a worldclass pricing strategy. This includes contributions to deal development, new product pricing and strategic pricing projects, execution of list and net pricing strategies, and monitoring and evaluation of contract performance for all customer segments (e.g., Managed Care, Non-Federal Hospitals, Long-Term Care, Medicare Part D, Medicaid (FFS & MM), Exchanges and Federal), including Diabetes, Biopharmaceutical and hormone therapy products.
RELATIONSHIPS:
The position reports directly to a Senior Manager in Strategic Pricing with and provides analytical support to other Managers within Strategic Pricing. Provides periodic analytical analysis to the Director, Strategic Pricing. The position will interact with a number of internal stakeholders including Contract Management, Rebate Management, Commercial Effectiveness, Government Pricing, Managed Market Strategy and the Managed Market Sales Account Executives.
ESSENTIAL FUNCTIONS:
PROCESS & ANALYSIS
• Assists with developments and updates to Pricing SOPs in compliance with all applicable regulations.
• Assists with the notification of launch product prices, correct system updates, and special terms/dating.
• Assists with the yearly review of current pricing strategies and owns the process for developing recommendations for the next calendar year.
• Develops world-class data gathering process to capture competitive pricing and discounting.
• Supports business and analytical expertise in the development of tools and methods that will result in more accurate customer profitability assessment and decision-making.
• Supports contract profitability forecasting. Contributes to continuous improvement of methodologies by measuring forecast versus actual results and benchmarking against industry practices.
• Works with 3rd party pricing vendors, Master Data, Contracts Operations, Finance, Trade, and Pricing Services to implement and disseminate pricing changes.
STRATEGIC PRICING ANALYSIS
• Analyzes impact of pricing changes on Novo Nordisk® financial results, including impact on statutory pricing.
• Assists in the development of channel forecasts and customer segment valuation.
• Assists with the development of Pricing Committee business cases and financial analysis.
• Collaborates with other groups (within PCOR and across other internal NNI groups (e.g. – CE/FFE)) to ensure proper pricing and product information is being used.
• Contributes to scenario impact models on pricing and profitability within key channels.
• Develops presentations for Senior Management regarding contracting and pricing strategies.
• Develops pricing models to be used in the review of list and net pricing recommendations.
• Executes analysis of net contract sales, market share, and contract pricing for the U.S.
• On an ad hoc basis, develops reports that monitor and evaluate Managed Markets performance at customer and channel levels.
• Owns financial analysis quantifying the expected performance and profitability of retail and non-retail contracts for in-line products.
• Partners with the Senior Manager to execute global projects relating to analysis of net sales, market shares, and pricing in the U.S. market.
• Provides ad hoc analyses as required.
• Provides integrated analyses and insights for customers and other business groups (e.g., customer segment reports and trend reports for internal Finance, Sales and Marketing management).
• Provides new product launch teams with in-depth performance metrics and insights on top Managed Markets accounts.
• Supports Strategic Pricing managers with the development and implementation of Managed Markets Strategy through financial modeling for deal evaluation and creation of analytical deliverables.
• Works with Master Data to ensure the accuracy of this pricing information in the NNI systems.
PHYSICAL REQUIREMENTS:
0% to 5% overnight travel
DEVELOPMENT OF PEOPLE:
Not Applicable
KEY SUCCESS FACTORS: EDUCATION, EXPERIENCE, KNOWLEDGE AND SKILLS:
• A Bachelors degree preferred; relevant experience may be substituted for degree, when appropriate.
• A strong understanding of Microsoft Excel, Access, Visual Basic PowerPoint and other key platforms.
• Ability to collaborate with stakeholders to execute analysis in support of decision-making and planning.
• Ability to communicate with all levels of the organization.
• Ability to ensure quality and validity of data and resolve data problems as necessary.
• Ability to perform advanced analyses (analytical, quantitative, and qualitative) required.
• Requires a minimum of 4 years relevant experience in the areas of pricing, contracting, forecasting, and financial modeling. Pharmaceutical industry experience a plus.
• Strong attention to detail.
Department FIN - STRATEGIC PRICING (1)
Position Location US - Princeton, NJ
City Princeton
State/Provinces US - NJ
Degree Required Bachelor's Degree or equivalent experience
Percent Travel 0 - 10%