Which pricing strategy is commonly known as 'value-based pricing' in the pharmaceutical industry?

The pricing of medications and medical devices involves complex strategies that balance research costs, market competition, patient access, and profit margins. How well do you understand the unique pricing approaches used in the medical product industry? This trivia question explores an interesting aspect of how pharmaceutical companies determine pricing for critical medications.

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Setting prices based on the estimated quality-adjusted life years (QALYs) a medication provides
Pricing a drug at cost plus a standard percentage markup across all markets
Setting medication prices based solely on the cost of active ingredients and manufacturing
Charging the same price as competitor drugs regardless of effectiveness differences