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3/16, 1:24 PM (Source: TeleTrader)
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Merck halts new Russia investments

American drugmaker Merck & Co. Inc. announced on Wednesday it has halted plans to make new investments in Russia due to the crisis in Ukraine, however pledging to keep delivering vaccines and medicines to the country.

Merck, which doesn't have any production facilities in Russia, followed steps previously taken by other prominent American healthcare companies such as Pfizer, Eli Lilly and Novartis. On the other hand, Merck also noted it would supply Ukraine with 135,000 doses of its COVID-19 treatment molnupiravir.

Baha Breaking News (BBN) / ND