Eli Lilly announces exodus from Russia
US pharma major Eli Lilly (NYSE: LLY) has become the second American drugmaker, after Bristol-Myers Squibb (NYSE: BMY), that has decided to exit the Russian market, reports The Pharma Letter’s local correspondent.
The company will transfer its local business to its partner in Central and Eastern Europe, Swiss-registered distributor Swixx Biopharma (previously called Amicus).
According to Russian Kommersant business newspaper, citing its sources in Lilly, preparations for this began at the end of February with a change in top management at the company's representative office in Russia.
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