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Jen Maki

Senior Managing Director

Photograph of Jen Maki

201 E. Washington Street, Suite 1410
Phoenix, AZ 85004

+1.480.678.7629 Mobile

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Jen Maki is a Senior Managing Director at Ankura, based in Phoenix. She is an economist and testifying expert, specializing in antitrust and complex commercial disputes in U.S. federal and state courts and in international arbitration. Her work focuses on damages and liability-related economic analysis, including rigorous evaluation of causation, but-for forecasting, pricing and market-share modeling, and the commercial reasonableness of business projections.

Experience

Jen is known for delivering clear, persuasive expert opinions that withstand scrutiny in deposition, at trial, and under cross-examination. She brings a dual foundation in economics and accounting to develop analysis grounded in real-world commercial facts, connecting market dynamics, customer behavior, and financial performance with industry context. Her experience is particularly deep in healthcare and life sciences, including pharmaceuticals, health insurance, provider markets, and medical products. In these highly regulated and data-intensive sectors she has analyzed demand drivers, utilization patterns, access and coverage dynamics, and evolving reimbursement environments.

In addition to her expert work, Jen has led complex commercial market assessments involving market sizing, competitive positioning, pricing, and demand forecasting. This experience highlights her ability to evaluate the reliability of business plans and forecasts when challenged in litigation.

Jen has authored articles on topics including healthcare economics, utilization, cost-effectiveness, equity, and consumer decision-making, including work appearing in the Southern Economic Journal and the International Journal of Drug Policy. She previously taught graduate-level health economics courses as an academic associate at Arizona State University.

Representative Engagements

Litigation

  • Testifying damages expert for claimant in arbitration proceedings. Evaluated but-for pricing, market share, and other relevant factors underpinning the claimant’s estimate of alleged loss.
  • Testifying expert for the defense in a class action against a state employer sponsored health plan. Developed an objective framework to assess the economic value of a health insurance plan in connection with impairment claims, including analysis of consumer decision-making, the personal value of insurance, and changes in healthcare costs over time.
  • Testifying damages expert for plaintiffs in Jessica Jones et al. v. Varsity, and indirect purchaser class action litigation case. Evaluated but-for pricing, quantified induced demand, assessed rebates and pass-through, and estimated damaged using integrated qualitative and quantitative methods.
  • Testifying damages expert for the defense in arbitration involving alleged failed market entry. Critically evaluated the plaintiff’s sales forecast and lost-profit claims and developed an alternative but-for forecast based on disease incidence, treatment patterns, market access, market share, and pricing dynamics.
  • Testifying expert for claimant in arbitration between an international pharmaceutical manufacturer and a distributor. Analyzed market dynamics, pricing, and projected sales volumes over the disputed contract term, incorporating market shocks and evolving competitive conditions.
  • Testifying expert for plaintiffs in class action litigation involving alleged exposure to a product associated with a rare form of cancer. Developed forward-looking models to estimate disease incidence and future treatment costs.
  • Testifying expert for the defense supporting an employer-sponsored health plan in litigation related to coverage decisions. Analyzed demand for care, provision of care, and supply-side constraints affecting treatment availability over time.
  • Testifying expert for the defense in a pharmaceutical wholesaler-related litigation case. Evaluated healthcare utilization pattern and geographic variation in prescribing and treatment.

Commercial

  • Conducted market sizing and competitive assessments for a long-term care provider. Evaluated competitive positioning, service capabilities, and the impact of evolving payment models on long-term financial sustainability.
  • Assessed competitive and displacement risk for a private equity (PE) firm evaluating the acquisition of a specialty drug infusion center. Analyzed loss of exclusivity, biosimilar entry, alternative therapies, anticipated competitive entry, and shifts in route of administration.
  • Conducted market and competitive assessments for a U.S.-based pharmaceutical manufacturer. Evaluated sustainability of existing products and strategic options under evolving competitive conditions.
  • Performed commercial due diligence for an in vitro diagnostics manufacturer evaluating cross-border acquisition targets. Conducted market sizing by technology, application, and end customer, and assessed competitive strengths and weaknesses.
  • Analyzed the relationship between treatment intensity, future healthcare utilization, and costs for individuals diagnosed with autism.  
  • Developed an analytical framework to assess market attractiveness and geographic prioritization for a PE-backed medical device manufacturer. Conducted product-level profitability analysis to identify avoidable costs and quantify return on investment.
Education
  • PhD, Economics, North Carolina State University
  • MS, Economics, North Carolina State University
  • MS, Accounting, University of Notre Dame
  • BS, Economics, Arizona State University
Affiliations
  • American Health Law Association | Practice Groups: Antitrust; Health Care Liability and Litigation; Life Sciences
  • American Bar Association | Litigation

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