- Eli Lilly And Co (NYSE: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 (NYSE:PFE), Bayer AG (OTC:BAYRY), and Abbott Laboratories (NYSE: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.
