Vice President, Trade Relations & Formulary Strategy

Who We Are: SmithRx is a rapidly growing, venture-backed Health-Tech company.  Our mission is to disrupt the expensive and inefficient Pharmacy Benefit Management (PBM) sector by building a next-generation drug acquisition platform driven by cutting edge technology, innovative cost saving tools, and best-in-class customer service.  With hundreds of thousands of members onboarded since 2016, SmithRx has a solution that is resonating with clients all across the country. We pride ourselves for our mission-driven and collaborative culture that inspires our employees to do their best work. We believe that the U.S healthcare system is in need of transformation, and we come to work each day dedicated to making that change a reality. At our core, we are guided by our company values: • Integrity: Our purpose guides our actions and gives us confidence in the path ahead. With unwavering honesty and dependability, we embrace the pressure of challenging the old and exemplify ethical leadership to create the new. • Courage: We face continuous challenges with grit and resilience. We embrace the discomfort of the unknown by balancing autonomy with empathy, and ownership with vulnerability. We boldly challenge the status quo to keep moving forward—always. • Together: The success of SmithRx reflects the strength of our partnerships and the commitment of our team. Our shared values bind us together and make us one. When one falls, we all fall; when one rises, we all rise. Job Summary: 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: • Experience: 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. What SmithRx Offers You: • Highly competitive wellness benefits including Medical, Pharmacy, Dental, Vision, and Life Insurance and AD&D Insurance • Flexible Spending Benefits • 401(k) Retirement Savings Program • Short-term and long-term disability • Discretionary Paid Time Off • Paid Company Holidays • Wellness Benefits • Commuter Benefits • Paid Parental Leave benefits • Employee Assistance Program (EAP) • Well-stocked kitchen in office locations • Professional development and training opportunities Zone A includes the following locations: • San Francisco Bay Area - California • Metro New York City - Connecticut, New Jersey, New York and Pennsylvania Zone A Pay Range $238,000—$280,000 USD Zone B includes the following locations: • California - outside of San Francisco Bay Area • Metro Denver / Boulder - Colorado • Metro District of Columbia - District of Columbia, Maryland, Virginia and West Virginia • Metro Boston / Cambridge - Massachusetts and New Hampshire • Metro Austin - Texas • Metro Seattle - Washington Zone B Pay Range $238,000—$280,000 USD Zone C includes all other locations not listed above, including: • Alabama, Alaska, Arizona, Arkansas, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Mexico, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Rhode Island, South Carolina, South Dakota, Tennessee, Utah, Vermont, Wisconsin, Wyoming • Non metro Colorado, Connecticut, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Texas, Virginia, Washington, and West Virginia Zone C Pay Range $238,000—$280,000 USD Compensation & Benefits • Base Salary: The range listed above reflects our standard pay scale and actual pay will vary based on work location, job level, job-related knowledge, skills, and experience. • Total Rewards: In addition to base pay, this role may be eligible for bonuses, commissions, or equity. SmithRx offers a variety of benefits to help you live well, including: time off programs, medical, dental, vision, mental health support, paid parental leave, life and disability insurance and 401(k). Individual offers are tailored to your geography, experience, skills, and education. Your recruiter can share more specific details during the hiring process. In the meantime, feel free to explore our comprehensive benefits here.