Pricing Director

Job Overview:

The Director of Pricing will be responsible for driving the development and execution of strategic pricing initiatives and providing commercial insights to support the expansion and profitability of the company's US and global product portfolio. This role involves in-depth analysis of market trends, pricing strategies, sales forecasting, and profitability, delivering critical insights to guide business decisions. Collaboration with key departments such as marketing, finance, planning, logistics, and sales is essential to ensure the success and alignment of pricing strategies with business goals.

Key Responsibilities:

• Work closely with global and regional teams in marketing and business intelligence to integrate data, develop analytical approaches, and generate insights that support informed decision-making and identify new opportunities.
• Optimize agency-related costs, including distributor fees, group purchasing organization fees, rebates, and government pricing programs, to improve the gap between gross and net sales.
• Analyze and interpret data related to ASP/WACS and reimbursement models, identifying trends and risks to inform strategic pricing that enhances profitability and market positioning.
• Conduct comprehensive competitor analysis, focusing on their pricing tactics, to better understand market dynamics and competitive advantages.
• Collaborate with sales, marketing, and finance teams to create and implement pricing strategies that align with broader business objectives, ensuring competitive positioning and maximizing revenue and profit margins.
• Coordinate with sales, marketing, and finance teams on contracting strategies, ensuring contracts align with pricing strategies and performance metrics, and managing payments and discounts accurately.
• Regularly engage with brand managers to discuss current pricing, contracting, ASP, and other relevant metrics to ensure alignment with market conditions and business strategies.
• Design and implement a strategic pricing framework across all product lines, balancing competitive factors with profitability goals to enable more strategic pricing decisions.
• Lead the development and maintenance of an internal pricing system that centralizes pricing data, making it easier to update strategies and ensuring that all stakeholders have access to the most current pricing information.
• Serve as the primary point of contact for all pricing-related matters, offering strategic guidance, fostering cross-functional collaboration, and ensuring pricing decisions are consistent with overall business goals.
• Continuously refine and optimize pricing strategies based on various factors such as market conditions, sales objectives, product lifecycle stages, and customer segmentation.
• Perform profitability analyses for each product, utilizing real-time data on costs and contract utilization to inform pricing decisions and predict their impact on overall business performance.
• Partner with logistics and forecasting teams to ensure that product shipments are aligned with forecasts and strategic objectives.
• Collaborate with marketing and finance teams to develop new analytical methods aimed at achieving commercial targets, particularly in new business development scenarios.
• Regularly review and refine data and system requirements, monitor performance metrics, and share insights with relevant stakeholders, including field teams, marketing, and finance.
• Work with IT and sales operations teams to identify and develop necessary software solutions.
• Provide leadership and oversight to the Analyst position, including performance management, feedback, and professional development.

Qualifications:

• At least 10 years of experience in the pharmaceutical industry.
• Bachelor's degree required; an advanced degree is preferred.
• Recent experience in pricing strategy is highly desirable.
• Demonstrated ability to work with and support executive management.
• Proven track record in developing pricing strategies, building pricing models, conducting profitability analyses, and performing competitor analysis.
• Strong analytical and strategic thinking capabilities, with the ability to innovate and thrive in a fast-paced environment.
• Ability to work remotely with an in-office presence 2 days per month.

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