Sample interview questions: How do you assess and manage financial risks associated with changes in drug approvals?
Sample answer:
Assessing Financial Risks Associated with Changes in Drug Approvals:
- Monitor Regulatory Landscape: Track regulatory agency actions, guidelines, and industry news to identify potential changes in drug approval processes.
- Evaluate Impact on Product Pipeline: Assess how potential regulatory changes may affect the approval timelines, indications, and commercial potential of drugs in development.
- Quantify Financial Exposure: Determine the potential financial impact of delayed or denied approvals, lost market share, and increased R&D expenses.
- Assess Impact on Funding: Evaluate the impact of regulatory uncertainty on the ability to secure funding for R&D and clinical trials.
Managing Financial Risks Associated with Changes in Drug Approvals:
- Establish Mitigation Strategies: Develop contingency plans to address potential delays or denials, including pivoting development plans, diversifying revenue streams, and exploring partnerships.
- Monitor Key Performance Indicators (KPIs): Read full answer
Source: https://hireabo.com/job/1_4_46/Chief%20Financial%20Officer%20%28CFO%29