Eli Lilly To Suspend Sale Of 'Non-Essential' Medicines To Russia

Trending Investment Opportunities

Eli Lilly And Co LLY said it would continue to supply drugs to Russia for urgent medical conditions such as cancer and diabetes but will suspend sales of "non-essential medicines."
Lilly also suspended investments and promotion activities in Russia and will not start any new clinical trials in the country.
With several Western companies leaving Russia, drugmakers and medical-device firms have also said they will stop investments and new clinical trials in the country but will continue to provide medicines to patients for humanitarian reasons.
As per Reuters, Lilly is the first to exclude drugs it designates as "non-essential," It did not disclose specific treatments affected by the decision.
On Monday, Pfizer Inc PFE, Bayer AG BAYRY, and Abbott Laboratories ABT said that they have pulled back from non-essential spending in Russia.
Related: Pfizer To Stop New Clinical Trials In Russia: Reuters.
Lilly said any profit from continued sales in Russia would be donated to organizations dedicated to humanitarian relief.
Price Action: LLY shares are up 2.44% at $275.58 during the market session on the last check Tuesday.