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Pfizer to donate all proceeds from Russian subsidiary to support Ukraine

Pfizer
Posted at 3:19 PM, Mar 14, 2022
and last updated 2022-03-14 18:19:38-04

Pfizer plans to donate all its proceeds from a Russian subsidiary to support humanitarian causes in Ukraine.

On Monday, the company announced that it'd continue to supply medicine to Russia. Still, it'll be donating all profits of its Russian subsidiary to causes that "provide direct humanitarian support to the people of Ukraine."

Pfizer added that they'd no longer conduct new clinical trials in Russia and will stop recruiting new patients in any ongoing clinical trials.

"These decisions align with our patient-first values and ensure that every dollar of profit derived from Russia will strengthen Ukraine and its people as they continue to valiantly defend their nation and freedom from this unprovoked and unjustified attack," the company said in a press release.

Pfizer said they would stop all planned investments there.