Pfizer says it will donate all profits of its Russian subsidiary to humanitarian relief efforts in Ukraine.
While other large companies in the private sector have scaled back or cut off trade entirely with Russia, many drugmakers said last week that they would not halt operations.
In a statement Monday, Pfizer reiterated that stance, saying that pausing the flow of life-saving medications to Russia "would be in direct violation of our foundational principle of putting patients first."
However, the statement continued, "maintaining the supply of medicines to Russia does not mean we will continue doing business as usual in Russia."
In addition to donating its Russian profits to Ukrainian relief efforts, Pfizer said it will stop recruiting new patients for clinical trials in Russia and will not begin any new trials there. The company said it does not own or operate any Russian manufacturing sites, but added that it will cease all planned investments with local suppliers intended to build manufacturing capacity.
"These decisions align with our patient-first values and ensure that every dollar of profit derived from Russia will strengthen Ukraine and its people as they continue to valiantly defend their nation and freedom from this unprovoked and unjustified attack," the statement said, NBC News reports.
