Novo Nordisk Associate Manager - Strategic Pricing & Contracting in Plainsboro, New Jersey
About the Department
At Novo Nordisk, our Strategy, Finance, and Operations team works to provide strategic direction to the company, ensuring that everything we do is viable and built to last. Overseeing and safeguarding Novo Nordisk’s short and long-term planning, the Strategy, Finance and Operations team works closely with the business across the organization to develop strategies and business plans, monitor industry trends, and provide operating recommendations. We regulate accounting, uphold workplace safety, manage our supply chain and sampling, support technology, provide commercial insights & analytics, maintain our facilities and assure the integrity and completeness of all business transactions. At Novo Nordisk, you will have the opportunity to build a life-changing 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 the opportunity for continuous learning and personal development. Are you ready to realize your potential?
This position is responsible for managing the entire deal evaluation/development process from contract inception through final approval. This includes the strategic assessment, deal structure, analysis, forecasting and reporting of contract profitability of 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.
The position reports to the Director Strategic Pricing and Contracting. The individual will partner and work closely with a number of internal and external functions within Novo Nordisk Inc (NNI) including; Brand Teams; VP, Pricing, Contracting, Operations and Reimbursement (PCOR); Director, Pricing and Market Access Insights; Sr. Director, Strategic Pricing and Contracting; Government Pricing Team; Market Access (VP, Directors and Account Executives); Pricing Committee and to a lesser degree Forecasting; Health Economics; FP&A; Legal; Commercial Insights and Analytics.
Builds trusting, collaborative relationships and alliances with others, inside and outside of the organization
Demonstrates knowledge of internal business operations and applies this knowledge to analyses, processes and deliverables
Assists with the deal evaluation process to support implementation of Market Access Strategy and Innovation
Identifies opportunities for account profitability optimization within a PBM/GPO and works in collaboration with Market Access Director and Director in Strategic Pricing and Contracting to execute on the opportunities
Structures all offers with respect to the development of financial analytics and profitability metrics
Assists with the development of presentations for senior management regarding all US pricing deals
Assists with the development of Pricing Committee business cases and financial analysis
Works closely with Strategy Directors to ensure all offers align with all aspects of approved strategies
Ensures all Terms & Conditions align with anticipated deal structure
Trains and mentors new team members in the areas of systems, processes, analytic models and presentations
Develops trackers and performance metrics for new product launch teams
On an ad hoc basis, develops reports that monitor and evaluate Managed Markets performance at customer and channel levels
Partners and works closely with the Sr. Director, Strategic Pricing and Contracting, Strategy Directors and Account Directors/Executives to finalize all proposals for key stakeholders
Partners and works with Pricing and Market Access Insights to compile, communicate and forecast all contracting events impacting the company forecast (rebate and volume)
Understands competitive dynamics to identify key opportunities and threats and incorporates into strategies and plans
Autonomously authors contract documents based on approved products and pricing, market baskets, and product positioning requirements. Independently works with customers and internal functional areas to reach agreement on business and legal aspects of a contract. Provides such documents to the account executive and/or customer within the required time frame
Obtains all appropriate and required internal reviews and approvals for contract terms and provisions. Ensures accuracy of pricing, market baskets, and terms within appropriate documents and timely submission of contracts to customers following offer approvals
Consistently follows company policies and procedures to ensure compliance with all guidelines, Sarbanes Oxley compliance, regulations, and policies
Advises leadership and stakeholder functional areas of contractual rights, obligations and risk analysis, as necessary
Maintains contractual information, including negotiation status and agreed upon terms and conditions, in Contract Lifecycle Management Tool (CLM)
Updates contract templates as market baskets and standard terms change
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 effectively with stakeholders
0-10% overnight travel required. 0-10% overnight travel required.
A Bachelor’s Degree required; degree in Business preferred. Legal experience a plus
A minimum of four (4) years of relevant experience, in the areas of pricing, contracting, forecasting, and/or portfolio analysis required; pharmaceutical experience preferred
Ability to perform analysis; identify trends and insights; and translate into actionable insights (analytical, quantitative, and qualitative) required
Understanding of pharmaceutical contracting, distribution channels, and products (understanding of therapeutic areas, drug administration)
Advanced proficiency in Microsoft Excel, Word, Access, PowerPoint, Word, and other key platforms
Ability to interact with various departments and levels internally, collaborating with all stakeholders to develop and execute tactics that best achieve goals within deadlines
Strong attention to detail with an ability to identify contract risk and solve data problems
Excellent communication and negotiation skills
We commit to an inclusive recruitment process and equality of opportunity for all our job applicants.
At Novo Nordisk we recognize that it is no longer good enough to aspire to be the best company in the world. We need to aspire to be the best company for the world and we know that this is only possible with talented employees with diverse perspectives, backgrounds and cultures. We are therefore committed to creating an inclusive culture that celebrates the diversity of our employees, the patients we serve and communities we operate in. Together, we’re life changing.
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.
Novo Nordisk requires all new hires to be fully vaccinated against COVID-19 prior to the first date of employment. As required by applicable law, Novo Nordisk will consider requests for reasonable accommodation.
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.