Johnson & Johnson to Stop Selling Personal Care Products in Russia
Johnson & Johnson has suspended sales of personal care products in Russia due to the “increasing humanitarian crisis” in the country. While this move affects a large number of consumers, the company will still sell medicines and medical devices. The company has also increased humanitarian aid to $10 million, in part to help those in need. A spokesperson told The Wall Street Journal that Johnson & Johnson will remain committed to essential health products in the country.
A number of companies have already ceased operations in the country, but Kimberly-Clark Corp. and Colgate-Palmolive Company are still selling essentials like toilet paper, soaps, and other personal-care items. Colgate will be selling basic hygiene products in Russia, as well as pet food. This decision comes as prices for personal hygiene products in Russia have risen significantly. In fact, the company is predicting that prices of personal hygiene products in Russia could increase by up to 40% over the next several years. Meanwhile, Russians continue to conduct real battles in store aisles to win the goods and hunt speculators.
J&J makes about 1% of its sales in Russia, but it has said that more than half of its business in Russia is related to pharmaceuticals. In Russia, J&J sells over-the-counter medicines and essential health products. Other major drugmakers also sell cosmetics, oral care products, and skin and beauty products. Some of these products include Listerine and anti-wrinkle creams. AbbVie, the maker of blockbuster wrinkle treatment Botox, has suspended its sales in Russia in the country.