Pfizer Will Donate All Russian Profits To Ukrainian Relief Efforts

It was updated on Mar 14, 2022, 08:56am.

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.

Pfizer considered ending the delivery of medicines to Russia in order to avoid suffering and the potential loss of life, but decided against it because it would cause suffering and the potential loss of life.

The company said that it will no longer start clinical trials in Russia or recruit new patients for existing trials.

Pfizer doesn't own or operate manufacturing sites in Russia, but it will stop all planned investments with local suppliers to build manufacturing capacity in the country.

Every dollar of profit derived from Russia will strengthen Ukraine and its people, as they defend themselves from an attack, Pfizer said in a statement.

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Dozens of international firms have distanced themselves from Russia after it invaded Ukraine. Business as usual has risked backlash from investors, consumers and politicians. Many, including energy giant Shell and fashion chain Uniqlo, have reversed initial decisions to leave the country. Russian prosecutors are threatening to seize assets from companies that withdraw from Russia and arrest corporate leaders who criticize the government, according to reports.

Zelensky Presses Companies to Punish Russia.

Here are the companies that are cutting ties with Russia.