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Pharmaceutical companies Merck and Novartis have suspended investments in Russia

Pharmaceutical companies Merck and Novartis have suspended investments in Russia
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Thursday, 17 March, 2022, 09:48

Since the invasion of Ukraine, hundreds of companies have announced a pause or withdrawal of businesses in Russia. Drugmakers Eli Lilly, Novartis and AbbVie are among the latest to join the growing list.

Eli Lilly has suspended the exportation of “non-essential medicines” to Russia, leaving its local operations in the country now focused solely on cancer and diabetes, the Indianapolis pharma said in a statement Tuesday.

Lilly will also donate any profits from Russia to organizations dedicated to humanitarian relief, the company said, joining Pfizer in that initiative. It has also cut all investments, promotional activities and new clinical trials in Russia.