Job Summary
The Product Manager, New Product Development leads the discovery, validation and launch of new products and services for our customers, including hospitals and health systems, retail and independent pharmacies, closed door pharmacies and government healthcare facilities across the United States.
Reporting to the Head of Product Management, you will own the front end of our product lifecycle. You will listen to customers, size markets, build business cases, write product requirements, and take new offerings through pilot and launch, then hand them to the Product Portfolio Manager to run in market. This is a business role focused on customers, markets and commercial results. It does not involve software development, coding or managing technical teams. It is a hands-on individual contributor role with executive visibility and room to grow within the Product Management team. It suits someone who wants to build new products rather than maintain existing ones.
Job Duties and Responsibilities (Essential Functions)
- Identify and evaluate new product opportunities based on customer needs, market research and business fit
- Gather customer input on new product concepts through customer advisory boards, focus groups, interviews and surveys, and coordinate with the teams responsible for broader customer feedback programs
- Conduct market research and competitive analysis, including market sizing, competitor offerings and pricing, and emerging industry trends
- Develop business cases for new products covering market size, customer value, pricing, financial projections, required investment and risks, in partnership with Finance
- Evaluate delivery options for new offerings, including internal development and partnerships
- Present new product recommendations to the Head of Product Management and executive leadership, and secure approval at each stage of the product development process
- Write product requirements documents (PRDs) that translate customer and business needs into clear requirements for the teams that build and deliver new products
- Recommend launch pricing and packaging based on customer value and willingness-to-pay research, and present pricing recommendations to the monthly governance committee
- Design and run customer pilots and minimum viable products to validate demand, pricing and delivery before full launch
- Work with Compliance from the concept stage so that new offerings meet Pharma Logistics' standards for quality, regulatory compliance and service excellence
- Develop go-to-market plans with Sales and Marketing, including positioning, value propositions, sales enablement and launch readiness
- Define success metrics for each new product and report results against the business case until handoff to the Product Portfolio Manager
- Hand launched products to the Product Portfolio Manager with documented pricing assumptions, KPIs and business case targets
- Contribute to the product roadmap and product lifecycle model maintained by the Head of Product Management
- Build the product, market and financial skills needed to take on broader product leadership responsibilities over time
Required Education, Skills and Experience
- Bachelor's degree in business, economics, finance, healthcare administration or a related field, or equivalent experience (MBA preferred)
- 5+ years in business-focused product management, new product development, product strategy or other commercial roles, preferably within healthcare, pharmacy or other B2B environments
- Proven success taking new B2B products or services from concept through launch
- Experience conducting customer research for new products and translating findings into product requirements and PRDs
- Strong analytical skills, including the ability to size markets, evaluate customer and operational data, and build decision-ready business cases financial models for new products
- Strategic thinking and sound commercial judgment, and the ability to present and defend recommendations to executive leadership
- Ability to lead cross-functional teams without formal authority
- Clear, concise written communication
Beneficial Education, Skills and Experience
- Pharmaceutical distribution, reverse distribution, PBM, pharmacy, or healthcare supply chain experience
- Experience leading, mentoring or developing product managers or analysts
- Pricing and packaging experience, including willingness-to-pay research
- Experience evaluating and managing business partnerships
- Familiarity with regulated environments, including DEA and state board of pharmacy requirements
- Pragmatic Institute or similar product management certification
Physical Requirements and Work Environment
Hybrid role based at our Libertyville, IL facility. Occasional time in the fulfillment center, where the employee may be exposed to pharmaceutical product, including hazardous and controlled substances. Prolonged periods of computer work. Occasional travel to customer sites. Required to work additional hours when deemed necessary to support the needs of the business.
Compensation and Benefits
The salary range for this position is $125,000-$140,000 USD annually. Actual salary may vary based on factors including, but not limited to, Pharma Logistics' business and organizational needs, as well as an individual's relevant experience, education, qualifications, certifications, skills, seniority, geographic location, and/or performance.
Pharma Logistics offers Medical, Dental, and Vision insurance (Blue Cross Blue Shield). Group life, AD&D, and long-term disability insurance.
