Business Development Manager - Formulations

Key Result Areas

• Understanding the company's product basket and identifying its placement in pharmaceutical market dynamics.
• Successfully closing business deals and partnerships.
• Effective team and project management.
• Achieving business targets in API and Formulations along with departmental team.

Role & responsibilities

Business Development (Domestic Markets)

• Identify and evaluate potential business opportunities in Domestic markets for companys lineage of Finished formulations offered on outsourcing arrangements.
• Understand the companys formulation product mix and pharmacology of the molecules and combinations.
• Conduct online and offline market research and competitive analysis for potential markets for promotion of finished formulations to pharma marketing companies.
• Develop and execution of business development strategies in alignment with departmental and company goals.
• Identify and evaluate, potential partnerships, and supply agreements.
• Plan business tours domestically to meet existing and new business clients for presenting new concepts formulations.
• Represent the company at business promotional events, trade shows and networking events within the country.
• Build and maintain relationships with key customers and stakeholders in the pharmaceutical industry.
• Stay informed about emerging regulatory guidelines in Domestic markets and scientific advancements that could impact business opportunities.
• Prepare and present business performance and MIS reports to senior management.
• Help achieve Year-over-year revenue targets and growth in market share
• Enhance New customer acquisition rate
• Contribute to the company's overall Finished Formulations Outsourcing - domestic business strategy

Team Management

• Train and Manage a team of business development executives for Domestic markets.
• Mentor and foster a culture continuous improvement within the business development team.
• Set performance goals and conduct regular performance evaluations of team and help them achieve their KPIs.
• Collaborate with cross-functional teams including New Product Development, Operations, Ethical Sales , to drive business development initiatives forward.

Other Business Development Support

• Liasoning with creative designers & media agencies for designing promotional content, website content, social media engagements for formulations basket promotion.
• Any other tasks pertaining to Business development or Business development support

Preferred candidate profile

Educational Qualifications:

• Bachelor's degree in Pharmacy/Chemistry (mandatory)
• MBA/Master's degree in Marketing or related field (preferred)
• Professional certifications in pharmaceutical marketing (advantageous)

Work Experience:

• Minimum 7-8 years of experience in pharmaceutical marketing
• At least 4-5 years of experience in formulations marketing or B2B / Institutional sales.
• Proven track record in achieving business growth targets

Technical Skills

• In-depth knowledge of pharmaceutical industry and bulk drug market
• Strong understanding of regulatory requirements and compliance
• Proficiency in market research and data analysis
• MS Office & presentation skills

Soft Skills & Additional Requirement:

• Excellent leadership and team management abilities
• Strong negotiation and relationship-building skills
• Outstanding communication and presentation skills
• Strategic thinking and problem-solving capabilities
• Willingness to travel (Within India) as and when required

Perks and benefits

CTC negotiable for the right candidates

Location

Bhandup, Mumbai