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Pfizer donates Russian profits to Ukraine

By Brian Buntz | March 14, 2022

Pfizer logo Pfizer (NYSE: PFE) announced that it would redirect all profits from its Russian subsidiary to relief efforts in Ukraine.

Concluding that pausing shipments of medicines to Russia would be counter to its principles, Pfizer had already decided to offer humanitarian efforts to Ukraine.

Pfizer also announced that it would refrain from launching new clinical trials in Russia and stop recruiting new patients for trials already underway. In addition, the company will also stop investing in Russia-based suppliers.

Pfizer’s previously announced humanitarian aid efforts included $2 million in funding to organizations such as the UN High Commissioner for Refugees (UNHCR), American Red Cross, International Medical Corps and International Rescue Committee (The IRC).

Other medtech and pharma companies, including Roche (SWX: ROG) and Bayer (ETR: BAYN), have announced similar initiatives.

About The Author

Brian Buntz

The pharma and biotech editor of WTWH Media, Brian is a veteran journalist with more than 15 years of experience covering an array of life science topics, including clinical trials, drug discovery and development and medical devices. Before coming to WTWH, he served as content director focused on connected devices at Informa. In addition, Brian covered the medical device sector for 10 years at UBM. At Qmed, he overhauled the brand’s news coverage and helped to grow the site’s traffic volume dramatically. He had previously held managing editor roles on two of the company’s medical device technology publications. Connect with him on LinkedIn or email at bbuntz@wtwhmedia.com.