Vice President of Trade Relations & Formulary Strategy

The Vice President of Trade Relations & Formulary Strategy is a critical executive leadership role responsible for the manufacturer-facing side of our supply chain. You will define and execute SmithRx’s enterprise rebate strategy, formulary management, and clinical criteria, ensuring alignment with our 100% pass-through and transparent business model.

Unlike traditional PBM roles focused on maximizing retained rebate revenue, this role focuses on driving the lowest net cost and highest clinical value for our clients. You will lead negotiations with pharmaceutical manufacturers, oversee our Group Purchasing Organization (GPO) partnerships, and direct the strategic design of our formularies and clinical utilization management programs.

What you will do:

• Trade Relations & Manufacturer Strategy

  • Lead Manufacturer Negotiations: Establish and maintain strategic relationships with pharmaceutical manufacturers, leading negotiations for rebates, discounts, and value-based contracts that align with SmithRx’s financial objectives and commitment to client transparency.
  • GPO Management: Oversee our rebate Group Purchasing Organization (GPO) partnerships and administration, ensuring compliance, financial accuracy, and strategic alignment with our pass-through model.
  • Market Access & Pipeline Monitoring: Monitor pharmaceutical market dynamics, generic pipelines, and biosimilar launches to proactively position SmithRx’s trade and contracting strategies ahead of market shifts.
  • Rebate Analytics: Provide executive oversight for rebate financial modeling, market assessments, and guarantee development in partnership with the Pricing and Underwriting teams.

• Formulary Strategy & Management

  • Formulary Design: Serve as the executive owner of SmithRx’s formulary strategy, ensuring recommendations are grounded in clinical evidence, market intelligence, and lowest-net-cost financial modeling.
  • P&T Committee Leadership: Lead and oversee the Pharmacy and Therapeutics (P&T) / Formulary Advisory Committee, setting standards for governance, documentation, and objective decision-making rationale.
  • Client & Consultant Engagement: Partner with Sales and Customer Success teams to clearly articulate the clinical and financial value of our formulary strategies to prospective clients and benefits consultants.
  • Experience with formulary management and utilization management across government programs (i.e. Medicare and Medicaid)

• Clinical Criteria Strategy & Management

  • Utilization Management (UM): Direct the development and deployment of clinical criteria for Prior Authorizations (PA), Step Therapy (ST), and Quantity Limits (QL) to ensure appropriate utilization, prevent waste, and optimize patient outcomes.
  • Clinical Philosophy Alignment: Ensure all clinical criteria and UM programs maintain strict independence from manufacturer influence, prioritizing patient health and employer savings over rebate qualification.
  • Specialty Drug Strategy: Collaborate with clinical leadership to design innovative management strategies for high-cost specialty drugs, gene therapies, and orphan drugs.

• Cross-Functional Leadership

  • Internal Alignment: Partner with executive peers across Pharmacy Networks, Clinical Operations, Sales, Finance, and Analytics to ensure integrated supply chain execution.
  • Team Development: Build, mentor, and scale a high-performing team of trade relations directors, clinical pharmacists, and data analysts.

What you will bring to SmithRx:

• 12+ years of progressive leadership experience in PBM trade relations, pharmaceutical market access, formulary management, or related clinical strategy roles.
• Experience across various lines of business: Commercial, Medicare, Medicaid, Exchange
• Industry Expertise: Deep understanding of the PBM ecosystem, drug manufacturer contracting, GPO structures, and the operational differences between traditional rebate aggregators and 100% pass-through PBMs.
• Negotiation Skills: Proven track record of successfully negotiating complex rebate and value-based contracts with major pharmaceutical manufacturers.
• Clinical Foundation: Strong grasp of clinical pharmacology, drug pipelines, and evidence-based medicine required to guide P&T committees and clinical criteria development.
• Analytical Acumen: Strong financial modeling skills with the ability to translate complex rebate structures into lowest-net-cost strategies.
• Education: PharmD degree is highly preferred; Bachelor’s degree in Business, Finance, or Healthcare Administration combined with extensive industry experience will be considered. Active pharmacist license in good standing is a plus.