Pfizer donates Russian profits to Ukraine

Pfizer (NYSE: PFE) has announced that it would redirect all profits from its Russian subsidiary to relief efforts in Ukraine.

Concluding that pausing shipments of medicines to Russia would be counter to its principles, Pfizer had already decided to offer humanitarian efforts to Ukraine.

Pfizer also announced that it would refrain from launching new clinical trials in Russia and stop recruiting new patients for trials already underway. In addition, the company will also stop investing in Russia-based suppliers.

Get the full story from our sister site, Pharmaceutical Processing World. 

Read more
  • 0

Pfizer donates Russian profits to Ukraine

Pfizer (NYSE: PFE) has announced that it would redirect all profits from its Russian subsidiary to relief efforts in Ukraine. 

Concluding that pausing shipments of medicines to Russia would be counter to its principles, Pfizer had already decided to offer humanitarian efforts to Ukraine. 

Pfizer also announced that it would refrain from launching new clinical trials in Russia and stop recruiting new patients for trials already underway. In addition, the company will also stop investing in Russia-based suppliers.  

Pfizer’s previously announced humanitarian aid efforts included $2 million in funding to organizations such as the UN High Commissioner for Refugees (UNHCR), American Red Cross, International Medical Corps and International Rescue Committee (The IRC).

Other medtech and pharma companies, including Roche (SWX: ROG) and Bayer (ETR: BAYN), have announced similar initiatives.  

Read more
  • 0

Russia claims to have first COVID-19 vaccine

[Image courtesy of Google Maps]

Russian officials announced today that they will make a COVID-19 vaccine available to its citizens on a voluntary basis, with President Vladimir Putin saying the vaccine has gone through all necessary tests.

The vaccine, developed at by the Gamaleya Institute in Moscow, will first become available to medical workers, teachers and at-risk groups. Kirill Dmitriev, chief executive of the Russian Direct Investment Fund that funded the vaccine effort, told reporters that tens of thousands of volunteers will receive vaccinations in the coming months, according to The Associated Press.

Experts even in Russia greeted the news with some skepticism, since the vaccine has not gone through a Phase 3 clinical trial in which its safety and effectiveness is evaluated among a large population with a placebo control group.

Get the full story on our sister site Drug Discovery & De…

Read more
  • 0