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Question - A pharmaceuticals company has two projects under development: Project 1: A project to develop a new drug to cure a cancer. The chances of successful development are low, but if a hoped-for technological breakthrough is achieved, the drug will provide high profits for many years. Project 2: A project to develop a new drug to relieve back pain. This project is now well developed and the new drug has gone through several successful tests. The company has high hopes that this drug will be very successful and highly profitable. The company is using an approach to evaluating strategic options according to value and effort. How should these two projects be classified?
1. Project 1: Blood Sweat and Tears Project 2: Low Hanging Fruit
2. Project 1: Blood Sweat and Tears Project 2: Dead Duck
3. Project 1: Delegate or Dump Project 2: Low Hanging Fruit
4. Project 1: Delegate or Dump Project 2: Dead Duck
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