Case Study involves reading the context I attached below and answering the questions in detail. I will post the questions below. The article is about 4 pages of reading.
1. What procedures has Pfizer used to set the price of Ibrance? Was it a simple or complex process? Was this process a wise use of society's resources?
2. Was the final price set for Ibrance a reasonable one, in your view? By which criteria do you make this assessment?
3. According to what you have learned in school, how do most companies set prices? What have you learned about how to determine the optimal price for a product?
4. At the end of the day, did Pfizer set its drug price in a typical or atypical way? Did its price-setting reflect or differ from the price-setting methods taught in business schools?