Which pricing strategy is commonly used for breakthrough cancer medications that significantly improve survival rates compared to existing treatments?

The pricing of prescription medications involves complex strategies that balance innovation, accessibility, and profitability. Pharmaceutical companies employ various approaches to determine the market value of their products, from life-saving drugs to chronic condition management medications. This trivia explores one of the most controversial pricing models used in modern medicine. Test your knowledge on how pharmaceutical companies establish prices for critical medications in today's healthcare marketplace.

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Value-based pricing: Setting prices based on the measurable health outcomes and quality-of-life improvements the medication provides
Reference pricing: Setting prices solely based on what competing medications in the same therapeutic class charge
Cost-plus pricing: Setting prices based only on research, development and manufacturing costs plus a standard markup
Subscription pricing: Offering unlimited access to the medication for a fixed monthly fee paid by healthcare providers