Skip to main content

Theresa C. Carnegie

Member

[email protected]

+1.202.661.8710

Follow:
Share:

Theresa is a nationally recognized health care and pharmaceutical supply chain attorney who advises clients on PBM strategy, drug pricing, and the regulatory and transactional issues shaping the pharmaceutical industry. With more than 25 years of experience, she combines sophisticated legal judgment with deep industry insight to help clients navigate complex commercial, regulatory, and policy environments.

Theresa has extensive experience structuring, drafting, and negotiating transactions across the pharmaceutical supply chain, including PBM service agreements, retail, mail, and specialty pharmacy arrangements, pharmaceutical purchase and distribution agreements, GPO arrangements, and rebate and value-based contracting models. She regularly advises clients on reimbursement structures, drug pricing strategy, and compliance with federal and state fraud and abuse laws.

Her practice spans health care transactions and investment matters, where she represents clients in mergers, private equity and venture capital investments, and strategic collaborations. Theresa supports regulatory diligence, licensing, change-of-ownership filings, and risk assessment across complex health care and pharmaceutical supply chain deals.

Theresa counsels PBMs, health plans, pharmacies, and distribution stakeholders on operational, regulatory, and compliance matters across commercial, Medicare Advantage, Part D, and multistate health care markets. She helps clients evaluate structural design considerations, policy developments, and business opportunities associated with innovation in drug delivery, reimbursement, and emerging service models.

Recognized as an industry thought leader, Theresa frequently communicates timely updates on regulatory, policy, and market developments affecting clients in the pharmaceutical supply chain. She is a regular author and speaker on health care regulatory and PBM-related issues.

Theresa is a member of the Firm's Policy Committee.


Theresa has exceptional knowledge and expertise. She is creative and a highly effective negotiator.

- Healthcare Client, Chambers USA 2025

Experience

  • Represented Cigna as health regulatory counsel in its acquisition of Express Scripts.
  • Represented Catamaran (f/k/a CatalystRx) in the structuring and negotiation of its PBM services arrangement with CIGNA.
  • Represented national worker’s compensation PBM in connection with multiple worker’s compensation PBM acquisitions.
  • Represented a national specialty pharmacy provider in connection with an internal compliance audit and investigation and response to government investigation.
  • Advised national pharmacy chain in multiple specialty pharmacy and long-term care pharmacy acquisitions.
  • Represented SingleCare, a discount medical and pharmacy card operator (“DMPO”), in its contracting with pharmacies, providers and other vendors.
  • Served as regulatory counsel to a consortium of investors led by TPG Capital and Welsh, Carson, Anderson & Stowe in their $4.1 billion acquisition of Kindred Healthcare, Inc. (NYSE:KND). The transaction was recognized by The Deal as the 2018 Private Equity Deal of the Year.
  • Advised a global health care company on a variety of issues in connection with its acquisition of several health plans and provider groups, including health care regulatory due diligence, health care regulatory advice regarding transaction structure and strategy, and preparation of regulatory notices and other filings.
  • Advised national pharmacy chain in connection with government agency arrangement to provide accessible COVID-19 testing.
Read less

viewpoints

New York became the 22nd state to sign into law legislation that will require commercial and Medicaid plans to provide coverage of telehealth and telemedicine services. The law, originally intended to take effect on January 1, 2015, will become effective on January 1, 2016.
Read more
The Nonprofit Revitalization Act brought sweeping changes to the laws that govern not-for-profit corporations in New York. Our colleagues Anthony E. Hubbard and Daniel E. Wilcox have authored an Advisory that provides an in-depth summary of key provisions of the Act that have recently gone into effect.
Read more
On November 24, 2014, the New Jersey Appellate Division affirmed a lower court’s decision to dismiss a physician’s lawsuit against a hospital based on federal and state statutory immunity provisions that shield hospitals and their peer review participants from monetary damages.
Read more

The 340B Mega-Reg is Dead

November 19, 2014 | Blog | By Theresa Carnegie

With all due credit to the Coroner from the Wizard of Oz, like the Wicked Witch of the East crushed by Dorothy’s house, the 340B Drug Discount Program mega-reg is “not only merely dead, it’s really most sincerely dead.”  And to quote one of my favorite sports commentators, Tony Kornheiser, “I believe I had that.”
Read more

Key Takeaways from OIG’s 2015 Work Plan

November 4, 2014 | Blog | By Kimberly Gold

The U.S. Department of Health and Human Services (HHS) Office of Inspector General (OIG) released its Fiscal Year 2015 Work Plan on October 31. The Work Plan provides the OIG’s planned reviews and activities with respect to HHS programs and operations during the current fiscal year and beyond.
Read more
Dynamic changes in the nation’s health care delivery systems have been prompted, in part, by the implementation of the Patient Protection and Affordable Care Act (“ACA”). In the wake of the ACA, hospitals and other health care industry participants have been undergoing significant consolidation. 
Read more
Last week, the Department Health and Human Services (HHS) announced that it will invest $840 million over the next four years to support 150,000 clinicians through a combination of incentives, tools, and information to encourage clinicians and other health care providers “to move from volume-driven systems to value-based, patient-centered, and coordinated health care services.”
Read more
Last week we wrote about a new business interruption insurance policy that is being rolled out to healthcare providers which will provide specific coverage for various ebola-related losses. This week we note that some business insurers are beginning to specifically exclude ebola-related losses from their standard commercial insurance policies.
Read more
ML Strategies has posted its weekly Health Care Update. This publication provides timely information on implementation of the Affordable Care Act, Congressional initiatives affecting the health care industry, and federal and state health regulatory developments.
Read more
On October 15, 2014, the New York State Department of Health (DOH) released proposed changes that will simplify the certificate of need (CON) process.
Read more
Read less

News & Press

News Thumbnail Mintz

Member Theresa Carnegie was quoted by Managed Healthcare Executive in an article about new bill Break Up Big Medicine Act that proposes a separation of the largest insurance companies and pharmacy benefit managers.  

News Thumbnail Mintz

Law360 Healthcare Authority featured insights from Member Theresa Carnegie in an article focused on the Consolidated Appropriations Act of 2026 which introduces new regulations for pharmacy benefit managers, particularly aimed at fee and cost transparency.

News Thumbnail Mintz

Member Theresa Carnegie shared insights in a Law360 Healthcare Authority article about a federal government bulletin stating that drug manufacturers will be able to sell medications directly to patients through TrumpRx, without violating federal anti-kickback laws. The article sheds light on the potential legal risks associated with excluding telehealth providers, pharmacies, and other parties not covered by the bulletin.

News Thumbnail Mintz

The Deal quoted Member Theresa Carnegie in a recent article about how regulatory pressure on pharmacy benefit managers (PBMs) has sparked innovation and opened up investment opportunities in the industry. Increased scrutiny of larger PBMs over concerns about competition and drug prices has prompted newer PBMs to emphasize transparency.

News Thumbnail Mintz

Member Theresa Carnegie connected with Endpoints News about the pharmaceutical industry's continued legal challenges to the Inflation Reduction Act, even as the federal government has prevailed in about a dozen cases so far. AstraZeneca, one of the companies still pushing back, recently requested more time to petition the Supreme Court following a loss in the Third Circuit.

Press Release Thumbnail Mintz

Mintz has earned top rankings in the 2025 edition of Legal 500 United States and Canada guides. The firm is recognized in 20 practice categories, and 78 of its attorneys are individually ranked in the guide, with several receiving recognition in more than one category. Additionally, two attorneys are featured in the "Hall of Fame," seven attorneys are named "Leading Lawyers," and five attorneys are recognized as a "Next Generation Lawyers."

Press Release Thumbnail Mintz

Chambers USA has recognized 43 of Mintz’s practices and 88 of its attorneys in its 2025 guide to the country’s leading law firms. Of those featured in the guide, 17 attorneys and seven practice areas were awarded Chambers’ highest ranking, Band 1. The firm expanded its rankings this year with three new practice area listings and 17 attorneys recognized for the first time or in additional categories.

News Thumbnail Mintz

Managed Healthcare Executive featured insights from Mintz Member Theresa Carnegie, which stemmed from a recent webinar hosted by LucyRx, a fiduciary pharmacy benefit manager (PBM), about states’ efforts to regulate PBMs and their relationships with pharmacies in light of stalled federal reform. In the webinar, panelists discussed the impacts of states’ efforts to reform PBMs and their relationships with pharmacies.

News Thumbnail Mintz

Managed Healthcare Executive quoted Mintz Member Theresa Carnegie in an article discussing Iowa’s new pharmacy benefit manager (PBM) legislation. The law aims to strengthen protections for independent pharmacies, improve their access to PBM networks, and implement stricter pricing and reimbursement requirements.

News Thumbnail Mintz

Member Theresa Carnegie was quoted in a Managed Healthcare Executive article about the implications of a new law in Arkansas, which bans PBMs from owning pharmacies. The law is intended to improve access and affordability for patients, but it could lead to adverse effects.

News Thumbnail Mintz

Member Theresa Carnegie was quoted by Law360 in an article about the unknowns of Robert F. Kennedy Jr.’s health policies following his nomination by President-elect Trump to head the Department of Health and Human Services. 

Press Release Thumbnail Mintz

Mintz has earned top rankings in the 2024 edition of Legal 500 United States guide. The firm is recognized in 14 practice categories, and 72 individual attorneys are also recognized in the guide, some in more than one category. Additionally, two attorneys are featured in the "Hall of Fame," three attorneys are named "Leading Lawyers," four attorneys are recognized as a "Next Generation Lawyers" and one attorney is recognized as a "Rising Star."

Press Release Thumbnail Mintz

Mintz announced today that 42 of its practices and 83 of its attorneys earned recognition in the 2024 edition of Chambers USA, a guide to the country’s leading law firms. Of those included in the guide, 18 attorneys and seven practice areas were awarded Chambers’ highest ranking, Band 1. The firm obtained new listings in three practice areas and 10 of its lawyers were recognized for the first time.

News Thumbnail Mintz

CNBC spoke with Member Theresa Carnegie on the legal battle over Medicare drug price negotiations. Drug makers argue that such negotiations would force them to sell medicine at significant discounts, violating their due process under the Fifth Amendment. Theresa commented on the government’s initial victories and their potential impact on remaining legal challenges.

News Thumbnail Mintz

Bloomberg Law spoke to Member Theresa Carnegie in an article discussing how four leading drugmakers are challenging the Medicare Drug Price Negotiation Program in federal court.

News Thumbnail Mintz

MMIT quoted a recent article written by Mintz attorneys Theresa Carnegie, Xavier Hardy, and David Gilboa in a story discussing the US district court ruling that overturned a federal rule allowing health plans to exclude copayment assistance from members’ out-of-pocket costs. The article notes the Department of Health and Human Services’ current stance of refraining from immediate action.

News Thumbnail Mintz

Theresa CarnegieLauren Moldawer, and Hassan Shaikh co-authored an article published by Law360 on the Inflation Reduction Act's Medicare drug pricing negotiation program.

News Thumbnail Mintz

Health Payer Specialist spoke to Member Theresa Carnegie about implications resulting from the Biden administration’s plan to place drugs in the Medicare program under price negotiation.

News Thumbnail Mintz

Theresa Carnegie's comments were featured in a PharmaVoice newsletter article analyzing the Biden administration's announcement of the first 10 drugs up for Medicare price negotiations.

Press Release Thumbnail Mintz

BOSTON –Mintz announced today that 39 of its practices and 81 of its attorneys earned recognition in the 2023 edition of Chambers USA, a guide to the country’s leading law firms.

News Thumbnail Mintz
In an article published by Bloomberg Law, Mintz Member Theresa C. Carnegie was quoted on the Trump administration’s proposed foreign drug pricing rule and potential legal challenges from the pharmaceutical industry.
Press Release Thumbnail Mintz
Mintz is advising a consortium of investors led by TPG Capital and Welsh, Carson, Anderson & Stowe in their acquisition of Kindred Healthcare, Inc. The definitive agreement totals approximately $4.1 billion in cash including the assumption or repayment of net debt.
Mintz's Theresa C. Carnegie and Rodney L. Whitlock are speaking at the Fifth Annual Pharmacy Benefit Oversight & Compliance Conference. The event brings together professionals from health plans, pharmacy benefit managers, pharmacies, and pharmaceutical manufacturers
The 2015 Chambers USA: America's Leading Lawyers for Business guide names 52 Mintz, Cohn, Ferris, Glovsky and Popeo, P.C.  attorneys as “Leaders in Their Fields.”
Read less

podcasts

Host Of Counsel Bridgette Keller invites the Mintz Health Law team to reflect on what they’re grateful for as they prepare for the year ahead. Hear from a dynamic group of Members, Of Counsel, and Associates as they share their perspectives on what’s coming up over the horizon.

Read more

Bridgette Keller speaks with the Mintz Health Law team about what they are grateful for as they look back on a year of client service, mentorship, and working together as a team.

Read more
Read less

Events & Speaking

Apr
28
2026

AHLA Health Plan and Managed Care Law Institute

Drug Pricing in 2026: Trump Rx and Other Developments

Virtual

Speaker
Jun
29
2020
Webinar Reference Image
Speaker
Moderator
Chair
Speaker
Nov
13
2017

Pharmacy Benefits and Pharmaceuticals: State of the Industry Update

AHLA

Marriott Chicago Downtown, Magnificent Mile, Chicago, IL

Moderator
Speaker
Speaker
Nov
12
2015

4th Annual Pharmacy Benefit Oversight & Compliance Conference

CBI

16770 North Perimeter Drive Scottsdale, AZ

Read less

Recognition & Awards

  • BTI Consulting Group: Client Service All-Star (2020)

  • Chambers USA: District of Columbia (Up and Coming) – Healthcare (2014, 2015); Chambers USA: District of Columbia – Healthcare (2023 - 2025)

  • Recognized by The Legal 500 United States for Healthcare: Service Providers (2024)

  • Nightingale’s Healthcare News: Outstanding Young Healthcare Lawyers (2005)

  • Phi Beta Kappa

Read less