Director, Pricing - Innovative Medicines

  • Princeton, NJ

Employment Type

: Full-Time

Industry

: Healthcare - Allied Health



Bristol-Myers Squibb is a global Biopharma company committed to a single mission: to discover, develop, and deliver innovative medicines focused on helping millions of patients around the world in disease areas such as oncology, cardiovascular, immunoscience and fibrosis.

Join us and make a difference. We hire the best people and provide them with a work environment that places a premium on diversity, integrity, collaboration and personal development. Through a culture of inclusion, we create a better, more productive work environment. We believe that the diverse experiences and perspectives of all our employees help to drive innovation and transformative business results.

Summary

The position evaluates the strategic implications of channel dynamics and ecosystem changes, using these insights to identify value-creating opportunities, and develop innovative pricing strategies for Innovative Medicines brands over their entire product life cycle. S/he is accountable to the Innovative Medicines brand access team for being the expert on value- creating pricing strategies and leading the corresponding value-creating activities. S/he utilizes a deep understanding of BMS' Innovative Medicines portfolio, profitability objectives, health economics outcomes research, customer profiles, and the business environment to analyze pricing scenarios and formulate innovative pricing models. S/he is a key member of the integrated customer team and brings a strong analytical mindset and skills to aid in account and channel specific access strategy development. The Director is responsible for identifying and evaluating creative and innovative pricing approaches in consideration of the evolving access landscape.

Responsibilities

Develops and maintains a comprehensive, value-creating pricing strategy for Innovative Medicines brands, ensuring they maintain strategic prominence with the customer in line with overall brand strategy

Responsible for tracking and communicating competitive activities, as well as changes in the marketplace and the regulatory environment that impact brand pricing strategies

Partners with the HEOR Team to ensure pricing strategies leverage and consider real world evidence

Identifies future supporting evidence needs in partnership with Innovative Medicines brands

Utilizes sophisticated analytics and strong financial acumen to evaluate impact of pricing scenarios on volume/revenue

Accountable to the Innovative Medicines brand access team for developing a comprehensive Gross to Net (GTN) strategy over the life cycle of the molecule, including the launch price, list price, discounts, etc.

Leads market research activities in support of Innovative Medicines pricing strategy and develops standardized methodologies and approaches for analyzing tiered pricing models, conducting pricing sensitivity analysis, and segmenting payers

Links brand value proposition with GTN strategy, and develops of innovative programs like value-based contracting

Assists the brand in evaluating the potential impact of value-creating programs, such as co-pay assistance, and the influence these programs have on various contracting options

Works successfully across the matrix to balance the needs of and input from multiple stakeholders (e.g., the brand, Finance, Federal and Policy teams, HEOR, etc.) who may influence the ultimate pricing/contracting decision

Maintains close partnership and coordination with the RAE/NAE account lead and Contract Operations in support of contract implementation with the customer

Maintains close partnerships with others in SP&V in exchanging insights and best practices, as well as leveraging skills to optimize pricing and contracting strategies across the portfolio

Ensure close coordination with peers and key matrix partners, such as Finance, on budgeting and projections

Candidate Specifications

Candidate must have a BA/BS degree or equivalent

7-10 years experience in the pharmaceutical/healthcare industry is strongly advised

Deep understanding of the unique characteristics of and requirements for pricing and contracting of Innovative Medicines products

Understanding of unique challenges and business drivers across channels, (e.g., payers, IDNs, GPOs, Pathway organization), and how they influence customer receptivity to various pricing schemes and contracting models

Strong analytical skills and an ability to think strategically about the impact of various pricing approaches that could be employed in a complex ecosystem/marketplace

Strong business acumen including a solid understanding of how various customer types make money and create value

Strong communication skills, ability to network across a broad internal and external matrix organization and the skills necessary to form strong, productive partnerships

Ability to work across boundaries and partner with various stakeholders to build consensus and get results

Experience in negotiating, executing, and implementing contracts

Exceptional aptitude for learning quickly and ability to communicate technical concepts to a wide range of stakeholders

Must have demonstrated ability to drive execution of key initiatives and meet all deadlines

Must have strong ability to prioritize and work effectively in a fast-paced, dynamic environment

Track record of highly ethical and compliant behavior

Preferred Qualifications

Advanced degree in Finance, Economics, Health Economics or a similar discipline is preferred

Bristol-Myers Squibb recognizes the importance of balance and flexibility in our work environment. We offer a wide variety of competitive benefits, services and programs that provide our employees the resources to pursue their goals, both at work and in their personal lives.


Associated topics: medical, medical lab science, medical laboratory science, mls, services, technician i, technician ii, technologist, testing, toxicology


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