Stephen Morales, M.B.A.

Stephen Morales is a healthcare strategist with more than 20 years of experience across the pharmaceutical, biotechnology, and medical device sectors, with a focus on market access, commercialization, and the intersection of policy and innovation. He has held leadership roles at Merck and Baxter and served as a senior advisor at leading consulting firms including LEK Consulting, Guidehouse, and the Marwood Group. In these roles, he has led strategies to launch new therapies, define pricing and reimbursement models, and support commercialization in therapeutic areas such as oncology, cardiovascular disease, dermatology, and rare diseases. In 2025, he founded Malmora Global, a health policy consultancy, to assist pharmaceutical companies in bridging their market access strategies and tactics with the dynamic legislative and regulatory environment for US healthcare.

Mr. Morales’ work is rooted in translating complex policy signals into actionable strategies for industry and health system stakeholders. He has led policy intelligence briefings for clients that assess the 10-year industry impact of healthcare reforms—such as Most Favored Nation (MFN) pricing, the Medicare Drug Price Negotiation Program, and state initiatives on Pharmacy Benefit Manager transparency. He has also contributed to publications and panels focused on aligning regulatory goals with innovation and patient access. His background in engineering and experience across both commercial and regulatory domains inform his systems-level analysis of policy development—operational feasibility, economic sustainability, and patient access. He has served in non-profit board leadership roles for Chicago-based hospital systems and mental health clinics.

Mr. Morales’ career reflects a commitment to aligning public policy with real-world implementation in the life sciences sector. He has advised executive teams, provider organizations, and investors on the downstream effects of health legislation, with a focus on ensuring that innovation remains accessible, sustainable, and responsive to evolving regulatory frameworks. He earned a BS in Mechanical Engineering from the Massachusetts Institute of Technology and completed an MBA with a concentration in Health Sector Management from Duke University.