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Pharmaceutical giant Pfizer will donate all profits from its Russian subsidiary to Ukrainian relief efforts and provide only a humanitarian supply of medicine to Russia, the company announced Monday, joining dozens of multinational firms altering or cutting ties with Russia over its invasion of Ukraine....
However, the company said this does not mean “doing business as usual in Russia,” and it will no longer start clinical trials in Russia or recruit new patients for existing trials. While it does not own or operate manufacturing sites in Russia, Pfizer said it will cease all planned investments with local suppliers to build manufacturing capacity in the country.
The decisions will ensure that “every dollar of profit derived from Russia will strengthen Ukraine and its people” as they defend themselves from an “unprovoked and unjustified attack,” Pfizer said in a statement.
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