Bristol-Myers Squibb is first foreign pharma to leave Russia
US pharma major Bristol-Myers Squibb (NYSE: BMY) has become the first foreign pharmaceutical manufacturer that has decided to leave Russia due to the ongoing military conflict and associated with the sanctions imposed on Russia.
So far, the company has already announced that it is transferring its Russian business to its distribution partner, the Swiss firm Swixx BioPharma (previously called Amicus), and has stopped ongoing clinical trials in the country.
According to the Russian pharmaceutical magazine Vademecum, BMS offered employees of its Russian division the chance to join Swixx BioPharma, promising compensation.
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