Pharma giant stops ‘non-essential’ business in Russia

German pharmaceutical giant Bayer is suspending ‘non-essential’ business in Russia amid the crisis in Ukraine, the company said in a statement on Monday. The company noted, however, that it would continue to supply both Russia and Belarus with products in health and agriculture.

According to the statement, Bayer will stop all spending in Russia and Belarus, including advertising, promotional activities, investment projects and new-business development.

“Withholding essential health and agriculture products from the civilian populations – like cancer or cardiovascular treatments, health products for pregnant women and children as well as seeds to grow food – would only multiply the war's ongoing toll on human life,” Bayer stated.

One of the largest pharmaceutical companies in the world, Bayer manufactures products like cancer drugs, contraceptives, allergy treatments, prescription products for cardiology and women’s healthcare, among others. Its popular brands include Alka Seltzer, Aspirin, Bepanthen, Elevit, Berocca, Claritin and Redoxon. The company also became a major producer of seeds and farming pesticides when it acquired Monsanto in 2018.

For more stories on economy & finance visit RT's business section