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 just been flagged by your internal research team: a rare but serious side effect (liver failure in approximately 1 in 8,000 patients over 5 years) was missed in clinical trials and is not in the current warnings. Your legal team says formal regulatory reporting would take 6 months. Your stock price would likely drop 40% on disclosure. Three board members are pushing to "wait for more data." You have a board meeting in 48 hours and a scheduled earnings call in 72 hours. What do you do in the next 48 hours? Provide a specific, hour-by-hour action plan. Consider legal liability, ethical obligations, financial implications, PR strategy, patient safety, employee morale, and regulatory relationships. Explain the reasoning behind each decision.