Date of Conferral

12-27-2024

Degree

Ph.D.

School

Management

Advisor

Dr. Hyuk Kim

Abstract

Optimal pricing of patent medicines is needed to ensure profitability of pharmaceutical companies while managing ease of access to these medicines for patients. The general problem that necessitated this study was that the prices of most patent medications in the United States are too high to warrant affordable costs by patients while simultaneously fostering drug innovation. The purpose of this qualitative multiple case study was to explore the best practices for ensuring equal access to patent medicines while maintaining profitability of pharmaceutical companies to pursue needed innovation and development of new drugs. This study was underpinned by Bandura’s social cognitive theory and the self-efficacy concept and guided by a qualitative methodology with a case study design. Data sources were semi structured interviews conducted online via Zoom, and document analysis of relevant reports and written manuals about the phenomenon. Participants were 17 pharmaceutical industry experts with 10 years of experience and at least 3 years in a managerial-level position in the departments of research and development, marketing, and/or finance and who also held at least a master’s degree. Thematic analysis led to the identification of three themes: (a) implementing strategic and operational practices, (b) policy and regulatory reforms, and (c) pricing and accessibility strategies as best practices in ensuring equitable access to patent medicine while maintaining profitability. The results of this study have potential implications for positive social change that include reducing the high prices of patent drugs, which could lead to improved access to medications, and improved access to medications would enhance health for all.

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