Which pricing strategy did Gilead Sciences famously use for its hepatitis C drug Sovaldi when it launched at $84,000 for a 12-week treatment course in 2013?

Test your knowledge about strategic pricing models in the pharmaceutical industry! The way medications are priced involves complex factors including research and development costs, market competition, patent protection, and regulatory considerations. Understanding these pricing strategies is crucial for healthcare professionals, industry analysts, and informed patients. Can you identify which pricing approach is being described in the question below?

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Value-based pricing (pricing based on the proven health outcomes and cost savings compared to existing treatments)
Penetration pricing (initially low price to gain market share before competitors enter)
Reference pricing (setting price based on average of competitor products in the same therapeutic class)
Cost-plus pricing (standard markup over production and R&D costs without consideration of market value)