Rebecca works at a biotech firm that develops medicines for rare diseases. The company develops...
50.1K
Verified Solution
Link Copied!
Question
Accounting
Rebecca works at a biotech firm that develops medicines for rare diseases. The company develops a new medication for a disease that less than 1,000 people have in the entire country. As a result, the drug will be priced high, but the firm will work closely with insurance companies to get the medicine to the right people without sacrificing much revenue. Though the medicine was originally sold in a cost-efficient capsule, the firm decided to switch to a premium vegan capsule due to the high demand from its most loyal customers who now avoid animal byproducts. Refer to Scenario 1.5. This is an example of forces in price Rebecca works at a biotech firm that develops medicines for rare diseases. The company develops a new medication for a disease that less than 1,000 people have in the entire country. As a result, the drug will be priced high, but the firm will work closely with insurance companies to get the medicine to the right people without sacrificing much revenue. Though the medicine was originally sold in a cost-efficient capsule, the firm decided to switch to a premium vegan capsule due to the high demand from its most loyal customers who now avoid animal byproducts. Refer to Scenario 1.5. This is an example of forces in price
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
