Sr. Contracts & Pricing Analyst at Abbott Laboratories

Abbott is a global healthcare leader that helps people live more fully at all stages of life. Our portfolio of life-changing technologies spans the spectrum of healthcare, with leading businesses and products in diagnostics, medical devices, nutritionals and branded generic medicines. Our 114,000 colleagues serve people in more than 160 countries.

THE OPPORTUNITY

At Abbott Molecular, we realize the potential of personalized care as the laboratory’s most trusted and preferred source for molecular diagnostics solutions. We are a division of Abbott Laboratories, a global, diversified healthcare innovator with a legacy of pioneering work in medical diagnostics.

Our Lake Forest, IL location is seeking an Senior Analyst, Global Contracts & Pricing. This role will drive sales operations processes, discipline, and standardization, including contract management and compliance. The Analyst will help develop pricing strategies for major customer channels to achieve sales and margin objectives. Additionally, they will create and manage contract programs aligned with overall pricing strategies to ensure goal achievement and maximize customer satisfaction.

WHAT YOU’LL DO  

The Contracting and Pricing function is responsible for analytical support and pricing decisions for all contracts across the Abbott Molecular Business, representing over $500MM in sales, globally. The team also manages contract compliance for performance, rebate, and chargeback contracts. Additionally, it provides decision support systems to sales and marketing teams, enabling effective business management. The department establishes policies and standards to ensure compliance with governmental regulations and monitors customer contracts.

• Responsible for positively impacting the Abbott Molecular Division to achieve Sales and Margin goals for all products.
• Work with marketing, finance and legal to develop and implement pricing strategy; policy; and structure that maximizes profitable share gain and business growth.
• Assess current contracting and pricing processes and develop improvements based on business needs.
• Pricing:
  • Ensure pricing strategy is being executed effectively (i.e., pricing is consistent with published guidelines and Economic Profit targets are met).
  • Manage and monitor pricing trends, exceptions.
  • Provide pricing insights to the Area (i.e. what pricing is winning vs. losing business).
  • Manage validation of pricing; terms & conditions and their implementation for individual and group contracts to ensure compliance with established division policy and programs.
• Contracting:
  • Lead the contract development process including analytical support administration.
  • Direct analytics and reporting to ensure customer contract compliance on all performance; rebate; and charge-backs; including comprehensive analysis of competitive pricing and implications on existing business.
  • Collaborate with regional distributor managers to establish and update annual targets and implement performance tracking.
• Maintain compliance with all legal and regulatory requirements.
  • Establish and maintain policies and standards to ensure compliance with government regulations, including coordinating efforts with internal and external legal counsel and other third parties.
• Develop and implement ongoing compliance training programs for all department personnel.

EDUCATION AND EXPERIENCE YOU’LL BRING  

Required

• Bachelor's degree required.
• Typically requires 3+ years of applicable experience to develop the competence required to meet the skills and responsibilities of the position.

Preferred

• Expertise in applying contracting and pricing strategies to business operations;
• Ability to translate organizational strategy into daily contracting and pricing activities;
• Experience working with sales or in a sales environment is essential;
• Proficiency in interpreting data, identifying risks, developing recommendations, and implementing solutions;
• Strong skills in building and maintaining professional relationships and partnerships;
• Consistent delivery of clear and concise written and verbal communication; excellent presentation skills;
• Strong analytical and critical thinking abilities; adept at problem-solving and utilizing computer software applications, especially Excel.

WHAT WE OFFER  

At Abbott, you can have a good job that can grow into a great career. We offer: 

• Training and career development, with onboarding programs for new employees and tuition assistance  
• Financial security through competitive compensation, incentives and retirement plans  

• Health care and well-being programs including medical, dental, vision, wellness and occupational health programs 
• Paid time off  
• 401(k) retirement savings with a generous company match 
• The stability of a company with a record of strong financial performance and history of being actively involved in local communities 

Learn more about our benefits that add real value to your life to help you live fully:  www.abbottbenefits.com  

Follow your career aspirations to Abbott for diverse opportunities with a company that provides the growth and strength to build your future. Abbott is an Equal Opportunity Employer, committed to employee diversity. 

Connect with us at www.abbott.com, on Facebook at www.facebook.com/Abbott and on Twitter @Abbott News and @AbbottGlobal. 

The base pay for this position is $72,700.00 – $145,300.00. In specific locations, the pay range may vary from the range posted.