A Deeper Look into the Pharmaceutical Industry

This project aims to shed light on the complexities surrounding the prescription drug life cycle and the impact of drug pricing on consumers. The research focuses on the role of Pharmacy Benefit Managers (PBMs), who are responsible for managing prescription drug programs on behalf of insurers, employers, and government programs. The study highlights the large responsibilities of PBMs and the need for health-equitable alternatives to Rx insurance. Scientific and technological advancements have led to an increase in drug development, leading to an urgent need for minimized costs to ensure accessibility to all individuals. Additionally, the stigma surrounding "Big Pharma" further complicates the issue, often leading to negative perceptions of the industry. The study concludes that the root cause of these challenges is a lack of transparency in the prescription drug market. This lack of transparency has led to a system that is complex and difficult to navigate, making it challenging for consumers to understand drug pricing and coverage. The findings of this study align with the mission of Saint Louis University, which is committed to advancing the greater good through rigorous academic research and a focus on social justice. By highlighting the need for transparency and health-equitable alternatives, this research contributes to the mission of promoting justice and improving the lives of individuals and communities. The study's findings have significant implications for policymakers and healthcare providers, calling for collaborative efforts to address these challenges and work towards a more transparent and equitable healthcare system.

Grant Needham

A graduating senior from Louisville, Kentucky, who will be graduating with a Bachelors of Science in Health Management and Entrepreneurship. Will be working at Norton Healthcare this summer, and will then transition into an MBA program in the fall where he will then transition into a role as a healthcare consultant.