BusinessPfizer isn't pullling out of Russia for a good...

Pfizer isn’t pullling out of Russia for a good reason

Since Russia’s war with Ukraine began, dozens of the world’s largest companies have announced that they are ceasing operations in the nation for the time being in order to show solidarity with Ukraine. But now one of the world’s leading pharmaceutical companies, Pfizer, has announced it will not follow suit. Instead, it will donate all Russian profits to Ukrainian relief efforts.

Unlike an iPhone from Apple, many of Pfizer’s products—mostly medicines—are literally life-saving to the Russians who rely on them. These include medicines used for cardiovascular conditions and cancer treatment. If Pfizer were to temporarily pull out of the Russian market as other Western companies have, thousands of Russian civilians, including children and the elderly, could lose access to the medicines they need, causing extreme suffering or even death. This is precisely why pharmaceuticals are usually exempt from any state sanctions imposed against another nation.

While Pfizer will continue to supply medicines to Russians for humanitarian reasons, the company will donate all profits from its Russian subsidiaries to Ukrainian relief efforts—a balancing act intended to stop needless suffering in Russia while alleviating the suffering going on in Ukraine. Pfizer also confirmed that it does not own or operate any Russian manufacturing facilities and it will halt planned investment in the country with Russian manufacturers.

Source link


Please enter your comment!
Please enter your name here

Latest News

If It Pleases the Court

Court documents say former Brooklyn Surrogate Court judge Harriet Thompson was removed from the bench after a series...

Australia’s house prices fall, interest rates rise but analysts say no crash yet

Newly built houses in the Denham Court suburb of Sydney, Australia. Mortgage rates have fallen to below 2%...

Mikhail Baryshnikov, 74, & Wife Lisa Rinehart, 71, Make Rare Appearance At Gala Honoring SJP

Mikhail Baryshnikov & his wife, Lisa Rinehart, made a rare appearance at the New York City Ballet's 10th...

Must Read

- Advertisement -

You might also likeRELATED
Recommended to you