Photo courtesy of Yonhap News Global pharmaceutical companies are withdrawing from the Russian market as sanctions against Russia tighten.
Reuters reported that Lilly, Novartis and AbbVie decided to suspend or reduce other businesses except for the supply of important medicines to Russia on the 15th local time.
Lilly has decided to stop selling, investing in and promoting non-essential drugs in Russia, and not starting new clinical trials.
However, we plan to continue to supply medicines needed for emergency medical conditions such as cancer and diabetes.
The Swiss pharmaceutical company Novartis has also announced that it will not invest in Russia, engage in all sales activities, or participate in events in Russia held by itself or any other institution.
American pharmaceutical company AbbVie, which owns the anti-wrinkle drug Botox, has announced that it will temporarily suspend sales of all its beauty products in Russia.
Earlier, Pfizer, Bayer and Abbott also announced on the 14th that they would continue to supply medicines to Russia but stop spending on non-essential sectors.
Western companies are under pressure to leave Russia after the invasion of Ukraine, but medicines and medical equipment are considered essential for humanitarian reasons, and the medical sector has been exempted from sanctions.
However, it is known that Russias supply of medical supplies is already being disrupted as strong sanctions cut Russian banks from the international financial system and shipping companies have suspended services to Russia.
