Bristol-Myers Squibb is first foreign pharma to leave Russia

1 June 2022

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.

This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Try before you buy

Free

7 day trial access

Take a Free Trial

All the news that moves the needle in pharma and biotech
Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
Receive The Pharma Letter daily news bulletin, free forever.

Become a subscriber

£820

Or £77 per month

Subscribe Now

Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
Daily roundup of key events in pharma and biotech.
Monthly in-depth briefings on Boardroom appointments and M&A news.
Choose from a cost-effective annual package or a flexible monthly subscription

The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK