Contracts & Pricing Analyst – Langhorne, PA
Responsible for the timely establishment, preparation, maintenance, and analysis of contracts and pricing documentation, and for making recommendations that will facilitate optimal pricing decisions made by the Contracts & Pricing, and Sales & Marketing Management teams. Ensures timely communications and accurate analyses of both contract and pricing documents in accordance with company policies, legal requirements, systems, and customer specifications. Key responsibilities will include managing the active products P&L, working in a cross-functional approach with Finance and Customer Service to open new accounts, resolve chargeback denials and customer deductions and to research and resolve pricing-related errors, and collaborating with external sources to manage the TX Medicaid submissions and Puerto Rico registrations.
- Effectively prepares, monitors, and executes all pricing activities (formal RFPs, pricing, rebates, product availability, special incentives, forecasting information, contract loads and amendments, and compliance documents) using a cross-functional approach to ensure company pricing goals, customer specifications, and company policies are met and maintained. Monitors outstanding pricing offers to ensure timely resolution and implementation.
- Participates in contract and pricing preparation, contract and pricing administration, and customer contract activities to provide for proper contract acquisition and fulfillment in accordance with company policies, legal requirements, and customer specifications.
- Opens new accounts and enters pricing and contracts into SAP and iContracts.
- Prepares and communicates all necessary documents required in support of new product launches or widespread pricing changes i.e. Catalog Updates, New Product Offer Templates, VIR Programs, Sales Promotions, State Medicaid Agencies submissions, Puerto Rico Registration documents, and Trade Pricing Compendia notifications.
- Documents and maintains competitive market intelligence and captures pricing data in a database used in pricing recommendations and decision-making.
- Leads the New Business Opportunity (NBO) process and follows submissions to Supply Organization for follow-up and through completion, and updates the NBO log as needed.
- Evaluates methods to optimize price, revenue, and margin through pricing strategies and competitive pricing and potential pricing change impact on customer’s book of business.
- Compiles relevant competitive and pricing data utilizing external sources and internal systems, and maintains historical information.
- Reviews and analyzes agreements for vendor requirements and coordinates with the Director, Contracts and Pricing, VP of Sales and Marketing and with Legal Counsel (when appropriate) to ensure compliance.
- Assists Finance with gross-to-net calculations for accruals, with resolving customer sales deductions, with reporting material shelf stock adjustments, and with resolving chargeback denial issues. Assists Customer Service with researching and resolving pricing-related errors.
- Assists Director of Contracts & Pricing with various management reports and Sales & Marketing team with Failure to Supply Claims.
- Continuously seeks process improvements, where needed.
ESSENTIAL JOB REQUIREMENTS AND QUALIFICATIONS:
- Experience developing and customizing documents from templates
- Experience with Microsoft Excel, Outlook, Word required.
- Experience with an ERP system (i.e. SAP) and Citrix programs (i.e. iContracts) required.
- Experience in pharmaceutical Brand and Generic business preferred; familiarity with the business and regulatory environment, organization structure, functional roles and responsibilities, pharmaceutical terminology preferred
- Experience managing and processing rebates, fees and discounts; knowledge of related legislation, contracting and pricing guidelines
EDUCATION AND EXPERIENCE:
- Bachelor’s Degree in Finance, Marketing, or Management
- Minimum of 5 years’ related work experience in the Generic Pharmaceutical Industry
- Minimum 3 years’ of commercial pricing and contracting experience (i.e. managing the internal contact process, hands on contractual work, document submission, pricing administration, execution, and customer service)