Job Title: Sr. Manager New Product Portfolio Planning & Management
Function: Business Development
Reporting to: VP – Business Development, Licensing and Portfolio Management
At Sun Pharma, we commit to helping you “Create your own sunshine”— by fostering an environment where you grow at every step, take charge of your journey and thrive in a supportive community.
As you enter the Sun Pharma world, you’ll find yourself becoming ‘Better every day’ through continuous progress. Exhibit self-drive as you ‘Take charge’ and lead with confidence. Additionally, demonstrate a collaborative spirit, knowing that we ‘Thrive together’ and support each other’s journeys.”
Job Summary:
The incumbent would need to build a strong New Product Portfolio and its management and delivery in a time bound manner for India Business of Sun.
Works closely with the Business/Marketing, Business Development, R&D, Manufacturing, Regulatory, IP, Market Research, SFE, CEO Office, Commercial, Medical, Clinical Research, CQA, Finance, PMO, New Product Launch, Network Strategy, Packaging development teams etc.
The job would essentially involve:
- Continuous evaluation, enrichment and expansion of product portfolio; Liaison between respective cross-functional team (CFT) for successful ideation to launch run
- Drive New Product Identification Process: Evaluate and select products in view with near- and long-term launches
- Therapy Gap Analysis and recommendation of products.
- Project Management Activities
- Analyze several competitive Intelligence data to identify innovative products and peer strategies across the value chain - development and marketing. Also, competitive intelligence tool to highlight in-market opportunities for commercial products and to de-risk commercial value of in-line products.
- Spearhead the updation of live portfolio dashboard as well as the continual updation of the product initiation form (PIF’s) online. Portfolio update with specific performance and goals tracker for all key projects.
- Business case evaluation, revision and revenue projection for pipeline as well as in-line products. Budgeting for forthcoming financial year as well as consolidating 5-year revenue plan for both in-line and pipeline products.
- Facilitate several evaluation of products from Third Party basis in co-ordination with commercial team.
Areas Of Responsibility
Accountabilities: New Product Ideation & Feasibility Analysis
- Establish & institutionalize processes for product selection
- Identify new product opportunities in line with overall business intent and inputs from various internal teams
- Validate the market potential in conjunction with Marketing Teams through primary / secondary market sources & benchmarks/analogues.
- Prepare the proposal on new products and initiate discussions with the respective teams
- Identify the product manufacturing basis the deliberations on the business case in conjunction with Network Strategy and cross-functional teams as appropriate
- Collaborate with cross-functional teams in R&D, PMO, Medical affairs, IP, Clinical Research, Business, New Product Introductions, Regulatory etc., to collect relevant data on assessing the development feasibility
- Estimate the product costing in and take necessary approvals.
- Partner the final product selection process.
Product Selection & Prioritization.
- Anchor Product Selection meetings/discussions.
- Prioritize selected products based on pre-defined criteria and communicate the same to in-house & sourcing team.
- Finalize the calendar for product launches
Third Party Partner Evaluation
- Interact with the prospective third partners in conjunction with Commercial Team.
- Validate technologies and skill sets of partners from portfolio fit perspective.
- Ensure timely alliances with the partners
Product Launches & Due Diligence.
- Ensure complete alignment between R&D team, Sourcing team, Marketing team and contract manufacturing team and various cross-functional teams to ensure the delivery timelines for new product launches
- Validate the actual launch performance against initial business assumptions.
- Ensure management reporting with regard to gauge performance Vs. targets
Health of the Product Pipeline
- Track and monitor the health of the product pipeline
- Establish integrated data management and MIS for portfolio management
- Ensure to develop sustainable revenue source for growth of the business
- Continuously evaluate the health of the existing products, prepare business cases, provide inputs and facilitate management decision.
Challenges
The position is a high visibility role envisaged to add value to the decision making process for the India business. A key challenge for the incumbent would be to work closely with a cross-functional spread team to establish and institutionalize processes for product selection. The incumbent would also be responsible to identify new product opportunities in line with overall business intent and cross functional teams for the business. This would be a key challenge for the incumbent.
The incumbent would also be responsible for Product Selection and Prioritization. Working with the cross-functional team he/ she would need to anchor Product Selection meetings / discussions and drive the agenda to prioritize selected products. The incumbent would also be accountable for finalizing the calendar for product launches. This would need complete alignment between R&D team, Sourcing team, Marketing team and the Manufacturing teams to ensure the delivery timelines for new product launches, another key challenge for the incumbent.
He / She would be interacting closely with the business development teams and prospective third party/commercial partners to validate technologies and skill sets of partners from a portfolio fit perspective Dealing with cross functional geographically spread teams and efficient collaboration with multiple stakeholders, internal as well as external, would be another key challenge for the incumbent.
The individual would need to keep the management team updated on the actual launch performance against initial business assumptions besides ensuring management reporting to gauge performance of the product portfolios across geographies. The incumbent would also need to continuously monitor and update the management team on the health of the existing products, prepare business cases, provide inputs and facilitate management decisions.
Educational Qualification & Experience
- MBBS/M.Pharm/B. Pharm/M.Sc./B.Sc./B.Tech (Biotech) with Business Management (MBA) degree.
- Portfolio Planning and Management experience of 5-7 years and 5-7 years in Business Development or Marketing or Market Research or R&D including New Product Development is preferred.
Skills
- Possess business acumen to understand the complexity of the business and proactively provide solutions
- Possess ability to take decisions needed to achieve the organization’s objectives
- Enjoy credibility to positively influence others within and outside the organization
- Have a strong sense of conviction, and generate comfort and a high degree of respect & trust
- Possess high level of maturity and tact to manage and collaborate with key stakeholders
- Should be highly result-oriented with the capability of taking ownership and resolving problems, and driving agendas effectively
- Should have the highest level of integrity and the ability to provide straight-forward counsel
- Should be a self-starter with a high energy level delivering in a competitive environment
- Have a high tolerance for change, a commitment to excellence while working within tight timelines
- Should have strong team skills with a collaborative approach.
