Nancy Yu, MBA, MA

Financial and Biopharma Industry Analyst, Drug Pricing Lab, Memorial Sloan Kettering Cancer Center

Nancy focuses on financial and policy analyses that support the value and accessibility of prescription drugs.

Prior to joining MSKCC, Nancy spent over ten years working in the healthcare investment industry, eight of which was in the equity research department at Morgan Stanley. In addition to her time as a sell-side analyst, she was the global pharmaceuticals analyst for a hedge fund and served as chief operating officer for a start-up healthcare investment firm.

Nancy holds both an MBA and a master’s degree in Asian studies from the University of Michigan, and an AB from Duke University.

Focus Areas

BioPharma industry
Financial analysis

Research & Insights

We conduct non-partisan, independent research, and make our work accessible and informative to policymakers and the general audience alike. Browse our featured research or explore our work by article type.

Spending On Prescription Drugs In The US: Where Does All…
Supply chain intermediaries, or “middlemen,” are being blamed for capturing much of the money that is often categorized as drug spending.
HA Blog 07/31/2018
Association of Rebates in Part D with Patient OOP and…
The way Medicare Part D's benefit design shows that rebates actually increase patients' out-of-pocket costs while shifting spending from plan sponsors and manufacturers to Medicare.
JAMA Internal Medicine 05/30/2017
R&D Costs Do Not Explain Elevated U.S. Drug Prices
Drug prices in other high income countries for the 20 top selling drugs globally make up less than half of U.S. net drug prices.
HA Blog 03/07/2017
Biosimilars: Market Changes do not equal policy success
Numerous articles and reports have trumpeted biosimilar market growth, but it's critical we do not lose sight of the sole objective for creating the biosimilar market: to reduce the cost of older biologic drugs for society and taxpayers.
Drug Pricing Lab 03/15/2021
Bottom-Up Pricing Estimate for P-quad
How much would biologic drugs cost under P-quad pricing? Two approaches to estimating fully loaded costs plus a profit (10% and 20% examined) suggest net discounts from current prices would be at least 65% to 75%
Drug Pricing Lab 03/12/2021
US Drug Prices And R&D, Take 2: A Reply To…
To answer Health Affairs responses, Peter Bach and Nancy Yu point back to the research, emphasizing the original intent of the conservative R&D cost assumptions.
Health Affairs Blog 07/27/2017
Production Plus Profit Pricing (P-quad) FAQ
08/17/2021
What A Waste! The National Academy Of Medicine’s Report On…
Why Congress should not follow the National Academy of Science, Engineering, and Medicine’s recommendation to remove the JW modifier.
Health Affairs Blog 07/09/2021
Medicare Must Study Unproven, Expensive Alzheimer’s Drug
Medicare cannot indiscriminately cover the cost of Aduhelm for the treatment of Alzheimer's disease without first evaluating whether it truly works.
Bloomberg Opinion 06/15/2021
Value-Based Management of Specialty Drugs: Practical Considerations and Implications for…
Not all approaches are suited to meeting policy makers and health plans’ goals of managing specialty drugs based on their value. Researchers conducted a qualitative study with Blue Cross Blue Shield plans interested in implementing value-based specialty pharmacy management to observe the plans’ objectives, strategies, and factors influencing their ability to execute on these strategies.
AJMC 05/13/2021
The Drugs at the Heart of Our Pricing Crisis
The US drug pricing system is broken, but not irreparable. For large-molecule biologic drugs, enter: Production Plus Profit Pricing (P-quad, pronounced like Ahab's seagoing vessel).
NYTimes 03/15/2021
Instead of debating 'first-shot' vs 'set-aside' vaccine approaches, hospitals' study…
Hospitals could start studies of their own employees to answer important questions, including whether the first-shot approach has downsides when compared to the set-aside strategy.
STAT 01/04/2021

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