Global Pharmaceutical Companies Pledge Support for Ukraine’s Healthcare System

Global Pharmaceutical Companies Pledge Support for Ukraine’s Healthcare System

Video source: YouTube, CBC News: The National

At least a dozen of the world's largest pharmaceutical companies have publicly broadcast their support of Ukraine's healthcare system amid the continued barrage of Russian attacks.

The eight-year-long conflict in eastern Ukraine had already left three million people in desperate need of humanitarian assistance. The latest attack ordered by Putin has only exacerbated the crisis, creating even more vulnerable populations among civilians. 

Pharmaceutical companies' efforts

Companies that have made tangible recent contributions include:

  • AstraZeneca, which has donated $1 million via Project HOPE and International Medical Corps.
  • Bristol Myers Squibb, which has donated $200,000 through its Foundation to Save the Children and International Rescue Committee.
  • Lilly, which has donated $7.5 million of insulin to Project HOPE.
  • Novo Nordisk Foundation, which has donated over $8 million to the support effort.
  • Pfizer, which has donated $1 million in humanitarian grants to the American Red Cross and International Medical Corp.
  • Roche, which has donated 150,000 packages of its broad-spectrum antibiotic Rocephin.
  • Sanofi, which has donated $5.5 million to the Red Cross and UN.

The European Federation of Pharmaceutical Industries and Associations (EFPIA) is tracking the various humanitarian efforts.

Investment thesis

Pharma has been resilient amid the broader market's swoon, and we think that trend will continue.

While there are bound to be ongoing disruptions in supply chains and clinical trial programs, the larger pharmaceutical companies can weather the storm and will also earn significant global good will in their efforts to support Ukraine.

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Source: Equities News

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