Maria Salgado

Senior Vice President

Contact

  • San Francisco

Education

Maria Salgado coheads Cornerstone Research’s healthcare practice. She also serves on the firm’s strategy, conflict resolution, and expert development committees. Dr. Salgado has more than twenty years of consulting experience in matters involving regulatory issues, antitrust, marketing, false advertising claims, intellectual property (IP), and general business litigation, particularly in healthcare and the life sciences. She has addressed class certification, liability, and damages and has consulted on the competitive effects of mergers.

Dr. Salgado has experience in all phases of litigation, including deposition and trial, and regularly leads large teams working with multiple experts. She also has substantial experience conducting economic analysis for government investigations.

Lexology Index (formerly Who’s Who Legal) has recognized Dr. Salgado multiple times as a leading competition economist and “an authority on the pharmaceuticals space.” She is a prior chair of the Antitrust Interface with Intellectual Property Rights Committee of the American Bar Association (ABA).

Healthcare disputes

Dr. Salgado has extensive experience analyzing a wide variety of economic issues in matters involving the False Claims Act, Anti-Kickback Statute, Medicare and Medicaid reimbursement laws, and the No Surprises Act. She has conducted economic analysis in relation to alleged kickbacks; evaluated reasonable rates for out-of-network services; analyzed risk adjustment reimbursement; evaluated causation, impact, and damages arising from sales and marketing practices; and analyzed the sampling and extrapolation of claims.

Dr. Salgado also works on economic issues involving managed care as well as government programs such as Medicare Fee-for-Service, Medicare Advantage, Medicaid, the Affordable Care Act, and the 340B Program.

Marketing and false advertising claims

Dr. Salgado consults on consumer class actions and government actions related to companies’ marketing practices and allegations of false advertising. She has evaluated class certification, liability, and damages issues related to alleged inappropriate marketing, false advertising, and product defects.

In assessing heterogeneity and harm among putative class members, Dr. Salgado has analyzed economic and market data and has applied machine learning and natural language processing methods to marketing communications, news articles, and social media content. She has particular expertise with economic and marketing analyses related to alleged public nuisance claims. Dr. Salgado’s work also includes the design and implementation of consumer surveys.

Antitrust

Dr. Salgado has substantial experience with antitrust issues in the pharmaceutical and healthcare industries and has analyzed relevant markets, competitive effects, class certification, and damages, among other issues. She has addressed allegations of delayed generic entry of pharmaceutical drugs due to sham litigation claims, exclusive supply arrangements, price fixing, and lifecycle management strategies.

In healthcare antitrust matters, Dr. Salgado has consulted on alleged exclusionary behavior, claims of horizontal conspiracy, and health insurance mergers.

Intellectual property

Dr. Salgado’s IP work includes Hatch-Waxman matters involving pharmaceuticals, including evaluating irreparable harm and commercial success issues related to Paragraph IV challenges. She has substantial expertise in biosimilars.

Publications and presentations

Dr. Salgado has published articles on healthcare and life sciences, on topics related to pharmaceutical mergers, reverse payments, biosimilar competition, irreparable harm, and healthcare class actions. She has also written about IP and antitrust issues involving the Biologics Price Competition and Innovation Act (BPCIA).

Her research has appeared in journals such as Health Affairs, The Antitrust Source, Nature Reviews, Concurrences Competition Law Review, and the Antitrust Health Care Chronicle. She regularly presents this work, often with coauthors, at professional and academic conferences.

Press Release

Cornerstone Research Announces New Senior Vice President Promotions

Press Release

Lexology Index 2026: Competition – Economists

Press Release

Lexology Index: Consulting Experts 2025

Article

An empirical study of the impact of mergers and acquisitions on pharmaceutical innovation

Collections

340B Drug Pricing Program

Press Release

Lexology Index 2025: Competition – Economists

Event

American Health Law Association Annual Meeting 2025

Press Release

WWL: Competition—Economists 2024

  • “Biosimilars Enter the Courts,” The Antitrust Source, American Bar Association, December 2016
  • “Interpreting Stock Reactions to Reverse-Payment Settlements,” Law360, February 2015
  • “Regulatory and Cost Barriers to Biosimilars Development,” Health Affairs, 2014
  • “Economics of Irreparable Harm in Pharma Patent Litigation,” Law360, November 2013
  • “Emerging Competition Issues in Biologics,” Antitrust Health Care Chronicle, July 2013
  • “The Complexities of Managing Vendor Relationships: Practical Strategies for Navigating Data Breaches in the New Age of Data Privacy,” American Health Law Association Annual Meeting 2025, 30 June 2025
  • “Tweets, Likes, and Scraping,” American Bar Association 71st Antitrust Spring Meeting, 31 March 2023
  • “No Surprises Act—Has It Had the Impact We Expected?” 20th Annual Washington Health Law Summit, 13 December 2022
  • “Machine Learning and Artificial Intelligence in False Advertising Litigation,” American Bar Association, 2 March 2022
  • “Key Issues in Reimbursement and Coverage Disputes in the Era of COVID-19,” 22nd Annual Emerging Issues in Healthcare Law Conference, American Bar Association, 11 March 2021
  • “Big Data Comes to a Healthcare Market Near You,” Antitrust in Healthcare Conference, American Bar Association, 12 February 2021
  • “Estimating Damages in FCA Litigation,” Federal Bar Association, 17 August 2020
  • “Playing to Beliefs: Taking Advantage of Popular Wisdom,” American Bar Association Section of Antitrust Law Spring Meeting, 29 March 2017
  • “Playing to Beliefs: Taking Advantage of Popular Wisdom,” American Bar Association Section of Antitrust Law Spring Meeting, 29 March 2017
  • “How Is Healthcare Changing? How Is the Government Responding?,” Cornerstone Research and Stanford Institute for Economic Policy Research (SIEPR) Cosponsored Healthcare Conference, 26 January 2017
  • “Protecting your Life Sciences Company against Antitrust Enforcement: What’s the Government Looking For and Am I Next?,” Life Sciences Committee, Association of Corporate Counsel, 12 May 2016
  • “Antitrust Issues in ‘Product-Hopping’ Cases,” Seventeenth Annual Conference on Emerging Issues in Healthcare Law, American Bar Association, 7 March 2016
  • “Patents, Antitrust, and Pharma: Different Rules?,” 2015 Antitrust and Intellectual Property Conference, Stanford Law School, 8 October 2015
  • “Current Issues in Pharmaceuticals Intellectual Property and Antitrust Litigation,” American Bar Association Section of Intellectual Property Law, 9 June 2015
  • “Competition in Biosimilars Markets: Lessons to Be Drawn from Recent European Experience,” American Bar Association Section of Antitrust Law, 12 January 2015