Although many multinational companies have stopped operations in Russia or aren’t sending their products there, large pharmaceutical companies are still shipping drugs to the country.
However, some companies are curtailing further investment or advertising activities.
GlaxoSmithKline (NYSE:GSK), for example, said that it is stopping all advertising in the country and will not enter into contracts with the Russian government of military.
However, because the company believes everyone has a right to medicines, it will continue to supply its products to the country.
AstraZeneca (NASDAQ:AZN) EVP, biopharmaceuticals unit, Ruud Dobber, speaking at the recent Cowen Healthcare Conference, said that the company has paused some of its trials in Russia and Ukraine, Endpoints News reported.
Endpoints also reported that Merck (NYSE:MRK) has stopped recruitment in some clinical trials in the two countries and Bristol-Myers Squibb (NYSE:BMY) suspended recruitment for trials in Ukraine, Russia, and Belarus.
The Wall Street Journal reported on Saturday that Johnson & Johnson (NYSE:JNJ) will continue to provide essential products to Russia, while AmerisourceBergen (NYSE:ABC) will continue to supply certain cancer drugs and complete clinical trials there.
Several companies have also announced they are donating medicines and making contributions to non-profit organizations to support Ukraine. Novartis (NYSE:NVS) has donated essential medicines as well as made a $3M donation to three humanitarian organizations.