Which pricing strategy is specifically used for new breakthrough medications with no therapeutic alternatives in the pharmaceutical industry?

In the medical industry, pricing strategies for pharmaceuticals involve complex considerations beyond simple manufacturing costs. Understanding these strategies can reveal why certain life-saving medications cost what they do, how companies recoup R&D investments, and the various market forces at play. Test your knowledge about the lesser-known aspects of medical product pricing that shape healthcare economics and accessibility worldwide.

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Value-based pricing (pricing based on health outcomes the drug provides)
Skimming pricing (initially high price that gradually decreases over time)
Reference pricing (setting prices based on what competitors charge for similar drugs)
Cost-plus pricing (manufacturing cost plus standard markup)