Ethical Dilemma with Stakeholders
You're the CEO of a pharmaceutical company. Your best-selling drug ($2B annual revenue, used by 4 million patients for chronic pain) has…
48-HOUR CRISIS ACTION PLAN: ETHICAL, LEGAL, AND FINANCIAL RISK MANAGEMENT HOURS 0-1: IMMEDIATE ASSESSMENT & CRISIS TEAM ACTIVATION Actions: Activate Crisis Management Team (CMT): CEO, Legal Counsel, Medical Director, Head of Regulatory Affairs, Head of PR, CFO, Head of HR Secure all data related to liver failure cases…Read the full answer
This is a defining moment for my leadership and the company. The pressure from the board to "wait for more data" is a trap that has destroyed pharmaceutical companies in the past (e.g., Merck with Vioxx). Hiding a safety signal to manipulate stock price is securities fraud and criminal negligence.Read the full answer