Global drugmakers slash investments and payments into Russia

Global drugmakers have significantly reduced their investments and payments into Russia and its pharmaceutical market this year due to the ongoing military conflict between Ukraine and Russia and sanctions imposed on the latter, reports The Pharma Letter’s local correspondent.

After February 24, 2022, the majority of Western pharmaceutical companies have drastically reduced their payments to Russian doctors as well as industry associations, and have significantly limited the provision of various grants and marketing promotion of their drugs.

Prior to the war, among the biggest spenders on these activities in Russia were Merck & Co (NYSE: MRK) and Bayer (BAYN: DE), as well as AstraZeneca (LSE: AZN), according to some analysts, however, most of these companies will probably cut their budgets for Russia for the current year. This is desp Saveite the fact that most of these companies continue the supplies of their drugs to Russia.