You’re the CEO of a global pharmaceutical company. After decades of work (and the investment of hundreds of millions of dollars), your scientists have come up with a major breakthrough. Your new drug, RU-32, is a low- cost anti-diabetic medication that dramatically stabilizes insulin levels. If approved, your company will own the patent on a drug worth billions of dollars. However, during Phase III clinical trials, unexpected complications arose, and approval by the FDA is now unlikely. Without FDA approval, you cannot sell RU-32 in the U.S. and most first-world countries. However, other countries––primarily in the third-world––will allow you to market the drug without U.S. FDA approval. You must choose whether to stop all development and cancel the program, or proceed with manufacturing for sale to citizens of third-world countries.
Inform the Board of Directors of your decision. Write a memo explaining your position and your reasons. Be specific and use detailed examples to support your main points.