Pfizer to keep supplying medicine to Russia; will donate profits from drugs sold there to Ukrainian 'causes'

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Pfizer to keep supplying medicine to Russia; will donate profits from drugs sold there to Ukrainian 'causes'

Dow Jones2022-03-14

MW Pfizer to keep supplying medicine to Russia; will donate profits from drugs sold there to Ukrainian 'causes'

Pfizer Inc. $(PFE)$ said Monday that it will continue to supply medicines to Russia but it plans to donate all profits to organizations that provide humanitarian support to Ukraine. The drug maker also said it will not start new clinical trials in Russia and will stop recruiting new participants for ongoing studies. Pfizer does not break out revenue from Russia in its financial statements. The company's stock is down 14.9% so far this year, while the broader S&P 500 has declined 11.8%. Corporate Pfizer: Media Relations +1 (212) 733-7410 PfizerMediaRelations@pfizer.com

-Jaimy Lee

$(END)$ Dow Jones Newswires

March 14, 2022 08:18 ET (12:18 GMT)

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·2022-03-14
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